"Conditional on Commercial Viability and Legal Compliance" ... "Severe Diplomatic Disaster"

[Anchor]

Regarding President Trump's announcement that South Korea will invest in the Alaska LNG development project, President Lee Jae-myung explained that work will begin only under the premise that commercial viability is confirmed and domestic legal procedures are met. The People Power Party claimed that if this was a unilateral announcement by the United States, it represents a severe diplomatic disaster.

Kang Cheongwan reports.

[Reporter]

President Lee Jae-myung stated on social media, "We have decided to initiate working-level steps for the Alaska LNG project announced by the United States, under the premise that commercial viability is verified and domestic legal procedures of the Republic of Korea are met."

A Cheong Wa Dae official further explained that "working" here refers to "detailed feasibility assessment work."

President Lee emphasized that "nuclear power plants must also be guaranteed commercial viability on a specific, plant-by-plant basis," and detailed the agreed profit-sharing terms between South Korea and the United States.

This is interpreted as an effort to highlight the "national interest" and "commercial reasonableness" that the administration has consistently stressed, seemingly mindful of domestic concerns and criticism following the unilateral announcement of the Alaska LNG project by U.S. President Trump.

[President Lee Jae-myung (Press conference on September 18) : "We are debating fiercely to configure the project in a way that does not compromise the national interest and benefits both South Korea and the United States..."]

Under Article 3 of the South Korea-U.S. Strategic Investment Act, investments in the United States lacking commercial rationality can still be pursued when there are inevitable reasons such as national security or supply chain stabilization; however, in such cases, consent must be obtained from the relevant standing committee of the National Assembly.

Democratic Party lawmakers have begun citing this provision, remarking that "the Alaska LNG project is not finalized" and that "investments in the United States will be reviewed and judged based on commercial reasonableness."

Some analysts suggest that if the United States continues to pressure Seoul for excessive investments, the ruling camp could use the "parliamentary standing committee consent clause" as a shield.

The People Power Party criticized, "If the U.S. president went ahead with a unilateral announcement without the consent of our government, it is a severe diplomatic disaster for the Lee Jae-myung administration."

(Video by Jeong Sang-bo, Ha Ryung, Kim Han-gyeol | Video Editing by Wi Won-yang | Graphics by Park Tae-young)
※ Please note: This article was translated by AI and may contain errors.