South Korea Disputes Trump Claim on Alaska LNG Project
South Korea and the United States disagree over whether Seoul committed US$50 billion to an Alaska LNG project as part of a larger investment framework.
The United States and South Korea have established a US$142.3 billion strategic investment framework, representing roughly 70% of a US$200 billion pledge made by Seoul to secure lower tariffs. However, a diplomatic dispute has emerged over the specific terms of the agreement.
Donald Trump unilaterally announced that South Korea committed an additional US$50 billion specifically for a liquefied natural gas (LNG) project in Alaska. This claim was supported by US Commerce Secretary Howard Lutnick. The South Korean government has pushed back against this characterization, asserting that they have only agreed to commence working on the project.
President Lee Jae Myung and Trade Minister Kim Jung-kwan stated that any investment in the Alaska LNG project remains subject to Korean legal procedures and the confirmation of its commercial reasonableness. Minister Kim suggested the US may be using the agreement for domestic political purposes, noting that the only formal agreements are limited to three sentences in a joint fact sheet.
The disagreement has triggered scrutiny within the South Korean National Assembly, where opposition lawmakers are demanding transparency to determine if the administration previously accepted the terms claimed by the US president.
