Trump heads to Alaska; new press secretary highlights “South Korean LNG investment”

【Financial News, New York — Correspondent Lee Byung-chul】  The Trump administration again said that $54 billion (about 72.5 trillion won) would be invested in South Korea’s Alaska liquefied natural gas (LNG) development project. With the White House touting South Korea’s investment plans as a major achievement ahead of President Trump’s visit to Alaska, differences in position between the two countries have once again come into focus.
At her first official briefing since taking office on the 13th (local time), new White House press secretary Katie Zacharia said President Trump “unveiled a South Korean energy investment package worth up to $200 billion in the United States” and described it as “an astonishing agreement.”
Zacharia explained that the investments would include up to $120 billion to build eight large-scale nuclear power plants in the United States, $54 billion for construction of an Alaska LNG pipeline and terminals, and $22.3 billion to build a 6-gigawatt (GW) natural gas power plant in Texas.
Regarding the nuclear power plant construction, the spokesperson stressed, “This is what the United States needs, and it is what President Trump promised during the election campaign,” adding, “Just as President Trump keeps all his promises, he has fulfilled this one too.”
On the Alaska LNG project, Zacharia explained that it was “intended to supply energy to countries around the Pacific and sell fuel to allies.” The point was that South Korean capital would go toward building energy infrastructure to supply Asian markets with natural gas produced in Alaska.
The South Korean government, however, maintains that, contrary to the U.S. announcement, only the Texas natural gas power plant project among the three has been finalized. It says further consultations are needed to assess the commercial rationale for the nuclear power plant construction and the Alaska LNG project. In particular, it stresses that the Alaska LNG development project is only at the stage where an assessment of its commercial viability has begun, and that neither whether to invest nor the amount of any investment has been decided.
The White House announcement that day also drew attention because it came ahead of President Trump’s visit to Alaska.
Wrapping up the roughly 14-minute briefing, Zacharia said, “President Trump is heading to Marine One for his historic trip to Alaska.” She then ended the briefing, saying, “You’ll be able to ask the president all your questions there.”


[email protected] Correspondent Lee Byung-chul Reporter