NEW YORK — U.S. President Donald Trump may announce South Korean investment projects in the United States on the 30th, local time, according to a foreign news report.
Reuters reported on the 29th, citing two sources, that Trump could announce plans to channel South Korea's strategic investment fund into multiple U.S. projects on the 30th. The plan includes an Alaska liquefied natural gas project worth about $54 billion, Reuters said.
Attention centers on the fact that the South Korean government has not yet designated the Alaska LNG project as a confirmed investment target. The government recently reported to the National Assembly that it would pursue construction of the Encinal combined-cycle gas power plant in Texas as the first project under its $200 billion strategic investment in the United States. By contrast, it classified the construction of eight large nuclear reactors in the United States and the Alaska LNG project as subjects for later negotiation.
If Trump announces the Alaska LNG investment as Reuters reported, the United States could be formalizing the project before detailed bilateral talks are completed.
In tariff negotiations with the United States last year, South Korea pledged a total of $350 billion in investment — $150 billion in shipbuilding cooperation and $200 billion in strategic investment — in exchange for a cut in U.S. tariffs to 15% from 25%.
If the announcement materializes, analysts expect the Alaska LNG project could emerge as a main destination for the $200 billion strategic investment fund.
The Trump administration is pursuing plans to use the funds for several large-scale projects in the United States, Reuters said.
