Reuters: Trump could announce Korea's $54 billion commitment to Alaska LNG project
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US President Donald Trump may announce South Korea's investment plans in the United States as early as Wednesday (local time), including a $54 billion commitment to an Alaska LNG development project, Reuters reported, citing multiple sources familiar with the matter.
The South Korean government recently briefed the National Assembly that it would pursue construction of a gas-fired combined-cycle power plant in Encinal, Texas, as the first project under a $200 billion strategic investment package for the United States. The construction of eight large nuclear power plants in the US and the Alaska LNG development project were classified as items for future negotiation.
If the Reuters report proves accurate, Trump could announce South Korea's investment in the Alaska LNG project as a done deal — a development drawing considerable attention.
Alaska is considered a competitive state ahead of midterm elections in early November.
Last year, South Korea pledged a total of $350 billion in US investment — including $150 billion in shipbuilding cooperation and $200 billion in strategic investment — in exchange for a reduction in tariffs from 25 percent to 15 percent.
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