Trump touts US$200 billion South Korean energy deal ahead of US midterms
US President Donald Trump has announced US$200 billion in energy investments from South Korea, including US$54 billion towards a long-discussed liquefied natural gas project in Alaska and more than US$100 billion in planned longer-term nuclear power investments.
Besides the Alaska LNG project and pipeline and the nuclear plants, the Trump administration announced a US$22.3 billion natural gas-fired power project in Texas that would be supported by Seoul.
“The colossal package of investments we are announcing today is a major step towards securing our critical energy supply chain, ensuring American energy dominance and making our partnership with South Korea and the entire Pacific region stronger than ever before,” Trump said during a White House event on Wednesday, joined by energy industry executives.
South Korea had agreed to invest US$350 billion in the United States and boost its purchases of US energy as part of a July 2025 trade deal with Trump that set 15 per cent tariffs on South Korean goods imported into the United States.