US President Donald Trump could announce plans as soon as Wednesday to channel South Korea’s pledged strategic investment into major projects in the United States, including a proposed $54 billion Alaska liquefied natural gas (LNG) development.
The potential announcement would highlight the economic commitments agreed between Washington and Seoul under a broader trade and investment arrangement. Two people familiar with the discussions said South Korean strategic investment funds could be directed toward the Alaska LNG project and other major US developments.
The Alaska project is expected to involve a large-scale pipeline and LNG export facilities designed to move natural gas from Alaska’s North Slope to domestic and overseas markets. The proposed investment would form part of a much larger South Korean commitment to projects in the United States.
South Korea and the United States have been working on how to implement Seoul’s investment commitments following their bilateral trade agreement. Projects under discussion include a large gas-fired power plant in Texas, nuclear power projects and the Alaska LNG development.
However, Seoul has cautioned that participation in the Alaska LNG project has not been formally finalized. South Korea’s trade ministry said investment decisions for individual projects would depend on reviews of their commercial viability and applicable procedures.
The distinction is significant because the Alaska project has faced questions over its enormous cost and commercial feasibility. Any South Korean investment would help provide capital for the pipeline and export infrastructure, but the final structure and amount of funding remain subject to negotiations and approvals.
The planned announcement also comes as Washington and Seoul seek to translate their broader investment agreement into specific projects. South Korean President Lee Jae Myung and Trump discussed progress on strategic investments during their meeting in New York last week, with both sides agreeing to continue consultations.
The Alaska LNG proposal is closely watched because it could expand US energy exports to Asian markets while giving South Korean companies and investors a role in a major American energy infrastructure project.
For now, the White House has scheduled Trump to make an announcement on US investment projects, but the exact details of the package have not been officially confirmed.
