U.S. Investment to Be Announced Tomorrow... Will Alaska LNG Project Be Finalized?

[Anchor]

Tomorrow early morning (October 1), U.S. President Donald Trump will directly announce the details of South Korea's investment projects in the United States. There is a high possibility that President Trump will unilaterally announce investment in the Alaska LNG project, which had been subject to ongoing negotiations due to unassured profitability.

Here is more from reporter Kim Young-a.

[Reporter]

U.S. President Donald Trump is set to announce the selection of U.S. investment projects at 4:30 AM tomorrow (October 1) Korea time.

While specific details have not been disclosed, Reuters and Bloomberg reported that President Trump will reveal that "South Korea will invest 54 billion dollars, approximately 73 trillion won, in the Alaska LNG project."

The Alaska LNG project is a large-scale undertaking to transport natural gas from the North Slope through a pipeline of approximately 1,300 kilometers to southern Alaska for liquefaction.

The plan is to export LNG on a long-term basis to Asian countries such as South Korea, Japan, and Taiwan, but major energy firms like ExxonMobil pulled out 10 years ago, citing a lack of commercial viability.

During a National Assembly session on September 22, the government reported that the construction of the Encinal gas-fired combined-cycle power plant in Texas was the first U.S. investment project, while classifying the Alaska LNG project as a task requiring further consultations.

On September 18, President Lee Jae-myung also emphasized commercial rationality, stating, "There are parts that are not easy to agree with, so we are talking again."

[President Lee Jae-myung (September 18): We only pursue projects with commercial rationality. The law is structured that way. It requires an evaluation of commercial rationality.]

The government stated today as well that participation in the Alaska LNG project has not yet been finalized, and that its decision will be made after weighing commercial rationality.

However, under the memorandum of understanding signed with the U.S. last year and the South Korea-U.S. Strategic Investment Special Act, investment destinations are to be selected by the U.S. president following consultations between the two countries.

Given his strong commitment to this project, it would be difficult to block President Trump from making a unilateral announcement.

The announcement tomorrow is reportedly scheduled to be attended by Alaska's Republican senators, representatives, and governor. Projections suggest that to support the upcoming November midterm elections, President Trump may bypass consultations with South Korea and lock in South Korea's investment in Alaska LNG.

(Video by Lee Seung-yeol)
※ Please note: This article was translated by AI and may contain errors.