Trump's $54 Billion Alaska LNG Investment Plan Sends South Korean Steel Stocks Soaring

South Korean steel and pipe stocks surged on September 30 as reports emerged that President Donald Trump may announce an investment plan in the United States, including a $54 billion commitment to the Alaska liquefied natural gas (LNG) development project.

The South Korean government has been pursuing this project as part of its strategic U.S. investment initiative, which was announced last year as part of a deal to lower tariffs on South Korean-made products from 25% to 15%. The project is expected to require massive quantities of piping and structural steel, positioning South Korean pipe manufacturers such as TCC Steel, KBI Dongyang Pipe, and SeAH Steel Holdings as likely beneficiaries.

According to Reuters, President Trump may soon formally announce the investment projects, including the Alaska LNG development project. This has fueled expectations of expanded demand for large-diameter steel pipe and steel products, triggering broad-based buying across related stocks. However, some observers note that the Alaska LNG project remains at the intergovernmental consultation stage, meaning it could take time before the actual contract size and timing are finalized.