US President Donald Trump on Wednesday announced about $200 billion in investments by South Korea in the United States, including $54 billion for a major liquefied natural gas (LNG) project in Alaska, as Washington and Seoul advance a broader $350 billion trade and investment agreement. The announcement was made at the White House alongside Alaska Senator Dan Sullivan, a key supporter of the project.South Korea on Thursday unveiled implementation plans for three major US energy projects under the investment package. They include the Alaska LNG project, a $22.3 billion gas-fired power plant in Texas and plans to invest $120 billion in eight nuclear reactors in the US.Trump described the Alaska project as one of the largest energy infrastructure investments in American history.“We’re thrilled to announce one of the largest energy infrastructure investments in American history,” Trump said.
Alaska LNG project
The Alaska project involves an 807-mile (1,300-kilometre) natural gas pipeline connecting the North Slope to an LNG export terminal in southern Alaska. The White House said the project would eventually help reduce energy costs for residents in the state.South Korea and the US will review the pipeline and terminal project, but it will proceed only if commercial and legal conditions are met.South Korea’s investment in the wider package will be capped at $20 billion annually under a legally binding agreement. Profits will be split equally between South Korea and the US until Seoul recovers its principal investment across the projects.Trump repeatedly praised Sullivan, who has supported the Alaska gas project for years and is facing Democrat Mary Peltola in a competitive Senate race.“He’s got my ear, and he’s had my ear for a long time on Alaska,” Trump said, adding that “all these energy projects are all mine, and I got ’em done working with Dan Sullivan.”Sullivan said the project would provide low-cost energy “for 50 to a hundred years” and estimated that it would create 12,000 construction jobs.“This is going to be the biggest LNG project in our country. We will be able to get gas, of course, to Alaskans first and to our military — and we need it — but to our Asian allies,” Sullivan said.
Wider South Korean investment
The investments stem from a $350 billion trade and investment agreement reached between Washington and Seoul in November 2025.Under the agreement, the US agreed to lower tariffs on South Korean cars, auto parts and other products from 25% to 15%. South Korea committed to invest $150 billion in US shipbuilding and another $200 billion in other strategic sectors.The Korean government said its planned energy investments include $120 billion for eight US nuclear reactors, including two based on South Korea’s APR-1400 design. Specific details of the nuclear projects have not yet been decided.South Korea and the US will also launch a 6.47-gigawatt gas-fired power project in Encinal, Texas, to supply electricity directly to artificial intelligence data centres. Commercial operations are scheduled to begin in 2029.The Texas project is the first initiative selected by South Korea under its $200 billion strategic investment programme.
Trump promotes economic record
The announcements come as Trump prepares for a month-long campaign to promote his administration’s economic and other policies ahead of the November 3 midterm elections.Republicans are seeking to retain control of both chambers of Congress, while Democrats are targeting seats including those in Alaska and Iowa.Trump has acknowledged that his administration needs to do more to highlight its achievements.“We have to turn this around,” he said on Wednesday.“I’ve done a very bad job of explaining,” the president said at an earlier White House event.Trump is scheduled to travel to Texas and Alabama on Thursday, followed by Ohio on Saturday and Nebraska on Monday.
