Trump Announces South Korean Investment in the U.S., Including 'Alaska LNG Development'

[Financial News] On the 30th (local time), U.S. President Donald Trump announced South Korean investment projects in the United States, including the construction of a gas-fired power plant in Texas, eight large-scale nuclear power plants, and the development of liquefied natural gas (LNG) in Alaska.
President Trump made the announcement at the White House office that day alongside Secretary Howard Lutnick and others.
This marked the announcement of the first project under South Korea's commitment to invest $350 billion in the United States in exchange for the U.S. reducing tariffs on South Korean exports from 25% to 15%.
The agreement was reached at a summit held by President Lee Jae Myung and President Trump in Gyeongju last year. Following 11 months of lengthy negotiations between the two countries, it was officially announced on this day.
However, the South Korean government has only finalized the $22.3 billion Project No. 1 to build a gas combined-cycle power plant in Encinal, Texas. The Alaska and nuclear power projects remain subject to further consultations.


[email protected] Lee Seok-woo, International Affairs Correspondent Reporter