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President Donald Trump could announce as early as Wednesday that his administration plans to direct South Korea’s strategic investment fund toward several major U.S. projects, including roughly $54 billion for the proposed Alaska LNG development, according to people familiar with the discussions.
The potential announcement would mark a significant step in implementing the investment commitments reached between Washington and Seoul. South Korea agreed last year to invest hundreds of billions of dollars in strategic U.S. industries as part of a broader trade agreement that also reduced U.S. tariffs on South Korean products.
Alaska LNG is expected to be one of the most prominent projects under consideration. The development would transport natural gas from Alaska’s North Slope through a pipeline to a liquefaction and export facility on the state’s southern coast. From there, liquefied natural gas could be shipped directly to customers in Asia, a major market for U.S. energy exports.
The project has already attracted interest from Asian buyers. Japanese energy companies JERA and Tokyo Gas have signed preliminary agreements covering a combined 2 million metric tons of LNG annually if the facility is completed. Developer Glenfarne said in March that it had secured commitments covering about 13 million tons per year but still needed additional agreements and binding contracts to support financing.
South Korean investment could also extend beyond Alaska LNG. Seoul’s Industry Ministry recently briefed lawmakers on several potential U.S. projects, including a large gas-fired power plant in Texas and the construction of eight large-scale nuclear reactors.
The investment push comes as the Trump administration seeks to highlight foreign capital flowing into U.S. infrastructure and energy projects. An Alaska LNG commitment would also strengthen economic ties between Washington and Seoul while potentially expanding U.S. access to fast-growing Asian natural gas markets.
