Trump’s Remarks on South Korea’s Participation in Alaska LNG Send Steel Stocks Higher

[Financial News] South Korean steel stocks are broadly gaining after President Donald Trump mentioned South Korea in connection with the Alaska LNG project.
As of 9:20 a.m. on the 3rd, SHIN STEEL was trading at 2,105 won, up 29.86% from the previous trading day, hitting its daily upper limit. Other steel stocks were also rising early in the session, including Kumkang Steel (25.05%), DONGIL STEELUX (13.05%), TCC Steel (18.89%), and Bookook Steel (10.50%).
The gains are being attributed to President Trump’s suggestion that South Korea and Japan could participate in the Alaska LNG project. Meeting reporters at the White House on the 2nd (local time), Trump said, "We’re going to Alaska to load fuel, load oil, build the pipeline, and do everything else," adding, "There’s Japan and South Korea."
Earlier, President Trump announced the Alaska Pipeline Project to export natural gas to Asia and had mentioned the possibility that investment from South Korea and Japan in the United States could be used to fund it.
The Alaska LNG project involves extracting natural gas from Alaska’s North Slope, transporting it through a newly built pipeline spanning approximately 1,300 kilometers to Nikiski, an ice-free port near Anchorage, liquefying it there, and supplying it to demand centers. Market participants expect South Korean steel stocks to benefit if the project moves forward in earnest, as demand for gas pipelines and steel pipes could increase.

[email protected] Reporter Lim Sang-hyuk Reporter