US President Donald Trump has announced plans for South Korea to invest up to US$200 billion, or about S$255 billion, in projects across the United States, including nuclear power, natural gas and electricity infrastructure.
The announcement on September 30 represents the first major projects under a broader US$350 billion strategic investment package agreed between Washington and Seoul as part of a trade deal.
Trump said the investments would include eight large-scale nuclear power plants, a natural gas pipeline and a 6-gigawatt gas-fired power facility in Texas.
South Korea confirmed plans to invest about US$120 billion in eight nuclear reactors and US$22.3 billion in a Texas gas-fired power project designed to supply electricity to energy-intensive facilities, including artificial intelligence data centres.
However, Seoul pushed back on the impression that all of the announced projects were already fully committed. In particular, South Korean officials said a proposed US$54 billion Alaska liquefied natural gas pipeline would proceed only if commercial and legal conditions are satisfied.
The Alaska LNG project involves an approximately 807-mile pipeline linking gas fields on Alaska’s North Slope with a liquefaction facility on the southern coast. If completed, it is designed to transport about 3.9 billion cubic feet of natural gas per day and produce up to 20 million metric tons of LNG annually.
The project has faced years of uncertainty over its cost, financing and commercial viability. South Korean lawmakers have also raised concerns about the financial risks of investing in a project whose final commercial commitments have not yet been secured.
The announcement comes as the Trump administration promotes major investment agreements as part of its economic agenda. The broader US$350 billion package includes US$150 billion earmarked for shipbuilding and US$200 billion for strategic investments in the United States.
For Washington, the projects could strengthen energy, nuclear and industrial ties with a major Asian ally. For Seoul, officials have emphasized that investments must meet commercial viability standards before final commitments are made.
