Trump announces $200 billion in South Korean investment for U.S. energy projects

President Donald Trump announced Wednesday that South Korean investors could commit up to $200 billion to U.S. energy projects. The proposal includes $54 billion for a long-planned liquefied natural gas (LNG) project in Alaska and a $22.3 billion gas-fired power plant in Encinal, Texas, which would generate about 6.5 gigawatts and supply electricity to nearby data centers. Trump posted on his Truth Social account that the two countries had agreed to begin work on the Alaska LNG project and the Texas power facility.

South Korea has previously pledged $350 billion in U.S. investments under a 2025 trade agreement that imposes a 15% tariff on Korean imports. Seoul confirmed it intends to move forward with the Texas power plant but said no final decision has been made on the Alaska LNG project, which will proceed only if it is commercially viable and complies with Korean legal procedures. The South Korean trade ministry noted that the scale of any investment remains undecided.

The administration also cited a $120 billion nuclear power program to build eight large reactors in the United States, with $100 billion earmarked for construction and $20 billion for contingency reserves. South Korean officials said each reactor’s participation will depend on its commercial viability.

The Alaska LNG project, led by the Glenfarne Group, would involve an 800-mile pipeline transporting gas from the North Slope to a liquefaction facility near Anchorage for export to Asia. Critics have highlighted environmental concerns and a potential skilled-labor shortage, noting a report that the United States may need 1.7 million additional trade workers annually through 2035.