Trump to Announce $300 Billion South Korean Investment Package
Donald Trump will unveil a series of South Korean investments in the U.S., including a $54 billion Alaska LNG project and nuclear reactor developments.
President Donald Trump is expected to announce a series of South Korean investment projects in the United States during a Wednesday meeting in the Oval Office. The announcement marks the first phase of a larger $350 billion investment pledge established under a bilateral trade agreement reached last year, which granted South Korea lower U.S. tariffs in exchange for capital commitments.
The first tranche of investments is estimated between $200 billion and $300 billion. A central component is a $54 billion project to export natural gas from Alaska's North Slope to Asian buyers via a 740-mile pipeline. This Alaska LNG venture, developed by Glenfarne Group, LLC, had previously been stalled. Other planned projects include the construction of eight large-scale nuclear reactors and a large-scale gas-fired power plant in Texas.
U.S. Commerce Secretary Howard Lutnick cultivated the investment plans. The timing of the announcement precedes the November midterm elections, providing a political boost to Alaska Republicans, specifically Senator Daniel J. Sullivan, who has long championed the LNG project and is currently facing a tight reelection contest.
