Trump unveils $200 billion South Korean energy investment amid Alaska pipeline uncertainty

In a major update, the U.S. President Donald Trump announced a sweeping $200 billion energy investment package from South Korea, featuring a high-profile $54 billion commitment toward a long-mooted liquefied natural gas (LNG) project in Alaska.

Speaking at the White House alongside Alaska Senator Dan Sullivan, Trump framed the agreement as a historic win for domestic infrastructure and manufacturing.

The broader arrangement stemming from bilateral trade accord also includes a $22.3 billion natural gas-fired power plant in Texas designed to support artificial intelligence data centers, alongside a $120 billion initiative targeting eight nuclear reactors.

However, South Korean officials adopted a more cautious tone regarding the Alaska pipeline component.

Seoul's industry ministry clarified that while broad energy cooperation is advancing, no definitive decision has been finalized for the Alaska project, stressing that construction and funding will depend strictly on meeting commercial viability and legal criteria.

"Thanks to the agreements my administration has secured with the Republic of Korea, they will invest up to $200 billion," Trump said from the Oval Office.

He said the investment would include the construction of eight large-scale nuclear power plants, a natural gas pipeline and a 6-gigawatt power generation facility in Texas.

The announcement is the latest in a series of economic and investment deals Trump is highlighting ahead of November's midterm elections, as he seeks to reinforce his economic record amid voter concerns over the Iran war and high gasoline prices.

The pipeline project could carry political significance in Alaska, where Republican Senator Dan Sullivan faces a competitive re-election race against Democrat Mary Peltola. Sullivan attended Wednesday's announcement.

The latest announcement from the White House amounted to the first set of major projects under a broader $350 billion strategic investment package South Korea made as part of a trade agreement with Washington last year. 

The package collectively included $150 billion for shipbuilding and $200 billion for strategic investments.