South Korea Disputes Trump’s $54 Billion Alaska LNG Investment Claim

South Korea has disputed President Donald Trump's characterization of its planned investment in the Alaska liquefied natural gas (LNG) project, saying no final investment decision has been made and that the project must first satisfy commercial and legal requirements.

South Korea disputes a $54 billion investment claim by President Donald Trump over the Alaska LNG project. [Image: Alaska LNG Project]

Trump announced recently that South Korea's US investment plans would include the Alaska LNG project, alongside a gas-fired power plant in Texas and eight large-scale nuclear reactors.

The announcement followed last year's US-South Korea trade agreement, under which Seoul committed to a $350 billion investment framework in the United States.

Trump and US Commerce Secretary Howard Lutnick described South Korea's planned participation in the Alaska project as involving more than $50 billion, with reports putting the figure at about $54 billion.

South Korean Trade, Industry and Resources Minister Kim Jung-kwan subsequently said Seoul had not made a firm commitment to invest that amount in the Alaska project.

“Putting figures or using definitive language goes far beyond what was agreed,” Kim said, according to Yonhap. He said the project would proceed only if it was commercially viable and complied with South Korean legal procedures.

The South Korean government also expressed regret to Lutnick over the US announcement. The US Commerce Department's own fact sheet said South Korea and the United States had agreed to “commence working on” the Alaska LNG project, while stating that details would be finalized later.

Trump later rejected the suggestion that he had announced the investment prematurely.

On Oct. 2, he said he had not “jumped the gun” and added that he would impose higher charges on South Korea if it ultimately declined to participate in the Alaska project.

The dispute illustrates a significant difference in how Washington and Seoul have described the status of the Alaska LNG project.

The project can proceed to further discussions, but South Korea has not confirmed a final $54 billion investment commitment.