U.S. President Donald Trump claimed on the 2nd (local time) that, through negotiations between South Korea and the United States, South Korea will pour 8.4 billion dollars (approx. 11.3 trillion won) into an oil-related project.
President Trump posted on Truth Social that day, writing, "I am pleased to announce that negotiations with South Korea continue to get better," and adding, "8.4 billion dollars for an Enhanced Oil Recovery project."
This is interpreted to mean that South Korea has decided to invest 8.4 billion dollars in the project in question.
"Enhanced Oil Recovery" refers to a technology that injects substances such as carbon dioxide into oil fields to raise internal pressure and produce more crude oil.
In his Truth Social post, President Trump wrote, "Increased oil and gas production means American energy dominance and future global energy security."
However, it remains unclear what exactly the "Enhanced Oil Recovery project" mentioned by President Trump refers to, or whether the two countries have reached an agreement on this during negotiations for U.S. investment projects.
Previously, when President Trump announced South Korea's first U.S. investment projects at the White House on September 30, he unilaterally announced the Alaska liquefied natural gas (LNG) development project—which had not yet been fully agreed upon—as if it were a done deal, and also revealed a specific investment scale of "over 50 billion dollars."
(Photo: AP, Yonhap News)