U.S President Donald Trump has unveiled plans for South Korea to invest up to $200 billion in projects in the United States, including nuclear power plants, a gas-fired power facility in Texas and an Alaska liquefied natural gas (LNG) project.
The announcement represents the first major projects under a broader $350 billion investment package agreed as part of a trade agreement between Washington and Seoul. The package includes $150 billion for shipbuilding and $200 billion for strategic investments.
“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.
The U.S President said the investment would include eight large-scale nuclear power plants, an LNG pipeline in Alaska and a 6-gigawatt power generation facility in Texas.
South Korean authorities, however, indicated that the Alaska LNG project had not been finally approved, saying its participation would depend on commercial viability and legal conditions.
Seoul confirmed a $22.3 billion Texas gas-fired power project and plans involving eight nuclear reactors, while the Alaska project remains subject to further discussions.
The Alaska project involves a proposed pipeline to transport natural gas from the North Slope to southern Alaska for liquefaction and export to Asian markets.
The investment plans are part of efforts by Washington and Seoul to implement the strategic investment component of their broader trade agreement.
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