Trump to Unveil South Korea’s $200 Billion US Investment Plan Centered on $54 Billion Alaska LNG Project

President Donald Trump is set to unveil South Korea’s plan to invest about $200 billion in the United States, centered on a potential $54 billion investment in a long-delayed liquefied natural gas project in Alaska, according to reports from Bloomberg and Reuters.

Trump is scheduled to make the announcement alongside Commerce Secretary Howard Lutnick in the Oval Office at 3:30 p.m. Eastern on Wednesday, according to the White House schedule, though the White House has offered no details on its contents. Alaska Republicans including Senator Dan Sullivan, Representative Nick Begich and Governor Mike Dunleavy are expected to attend.

The planned announcement marks the first tranche of projects under last year’s US–South Korea trade deal, under which Seoul pledged $350 billion in US investment — $150 billion for shipbuilding and $200 billion for strategic sectors — in exchange for lower US tariffs on Korean goods.

At the heart of the plan is a roughly 1,300-kilometre pipeline that would carry natural gas from Alaska’s North Slope to the ice-free port of Nikiski near Anchorage for liquefaction and export to Asian buyers. The project is being developed by the privately held Glenfarne Group.

However, Seoul has taken a guarded stance: it has left the project open for further negotiation amid questions about its commercial viability, with Trade Minister Kim Jung-kwan previously describing it as a “high-risk venture”. Korea instead named a $22.3 billion gas-fired power plant in Encinal, Texas, as its first verified US project earlier this month.

The announcement is widely seen as carrying electoral weight. Sullivan, who has championed the project, faces a tight re-election fight against Democrat Mary Peltola in November’s midterms, and Trump won Alaska by 13 points in 2024.

Sources

1. Bloomberg (via Bloomberg Law) — Trump to Tout $54 Billion Korean LNG Plan in Battleground Alaska
2. Korea JoongAng Daily — Trump may tout potential $54 billion Korean investment in Alaska despite Seoul’s doubts
3. The Hindu BusinessLine — Trump to unveil South Korea’s $200 billion US investment plan, including $54 billion for Alaska LNG