Trump Expected to Announce South Korea's Investment in Alaska LNG Project on 30th

Foreign media reports indicate that U.S. President Donald Trump is expected to announce South Korea's investment project in the United States at the White House on the 30th (local time).

It has been reported that the announcement will include a 54 billion dollar (73 trillion won) investment in the Alaska liquefied natural gas (LNG) development project.

As the South Korean government has classified the Alaska LNG project as a subject for future discussions, attention is focused on how President Trump's announcement will be formulated.

Citing multiple sources familiar with the matter, Bloomberg reported on the 29th that President Trump is expected to unveil a 200 billion dollar (270 trillion won) South Korean investment plan targeting the United States at the White House on the 30th.

The outlet explained that the announcement will also include the 54 billion dollar investment in the Alaska LNG development project.

Citing two sources, Reuters also reported that President Trump could announce South Korea's investment project in the U.S. as early as the 30th, and that 54 billion dollars will be invested in the Alaska LNG development project.

The South Korean government recently reported to the National Assembly that it plans to pursue the construction of the Encinal gas-fired combined cycle power plant in Texas as the first project under the 200 billion dollar U.S. investment plan.

The construction of eight large-scale nuclear reactors in the U.S. and the Alaska LNG development project have been classified as items for future negotiation.

Because the Alaska LNG development project has not yet been finalized, President Trump's specific announcement details are drawing significant attention.

The possibility cannot be ruled out that President Trump may announce South Korea's investment in the Alaska LNG development project as a fait accompli.

The Alaska LNG development project involves extracting natural gas from the North Slope region of Alaska, transporting it via a pipeline stretching approximately 1,300 kilometers to an area near Anchorage, liquefying it, and supplying it to demand markets.

Although President Trump has pursued this initiative with considerable determination, concerns have been raised regarding the uncertainty of securing profitability.

It has been reported that the U.S. side strongly pushed for the Alaska LNG development project during the process of selecting South Korea's U.S. investment projects.

Earlier this month, while taking questions from reporters, President Trump mentioned both South Korea and Japan in connection with the Alaska LNG development project.

Alaska is classified as a swing state ahead of the midterm elections in early November.

While President Trump won a landslide victory in Alaska during the 2024 presidential election, a tight race is currently unfolding for the Senate seat between Republican incumbent Dan Sullivan and a Democratic candidate.

It appears highly likely that President Trump's announcement has been planned to help drive Sullivan to victory.

Sullivan has been an active supporter of the Alaska LNG development project, and President Trump is reportedly planning to visit Alaska in October to campaign for him.

Previously, on the 28th, President Trump also announced a plan to build a large-scale 15 billion dollar steel mill in Iowa.

Iowa is also a Republican stronghold where President Trump won by a wide margin in the 2024 presidential election, but a fierce contest is underway in the current midterms.

Last year, South Korea promised a total of 350 billion dollars (473 trillion won) in investments in the U.S., including shipbuilding cooperation (150 billion dollars) and strategic investments (200 billion dollars), on the condition that tariffs be lowered from 25 percent to 15 percent.

(Photo: AP, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.