Trump Dangles Alaska Gas Project as Part of Korean Investment Package

The Trump administration said on Wednesday that South Korea would invest up to $200 billion in a variety of power projects in the United States, including a power generation facility in Texas, eight nuclear power plants and a liquefied natural gas facility in Alaska.

They are part of a slate of projects announced by the White House as it tries to bolster its economic record in the run-up to the midterm elections in November. Alaska is one of several red states that Democrats have targeted to try to win back control of the Senate. Senator Dan S. Sullivan, the Republican incumbent, got fewer votes than his Democratic challenger, Mary Peltola, in the state’s nonpartisan primary last month.

The announcement stemmed from a commitment by South Korea to invest $350 billion in the United States as part of a trade deal last year.

But many experts have questioned whether South Korea will be able to fulfill that commitment, which would more than triple the country’s current investments in the United States. As of 2025, data from the Commerce Department showed that foreign direct investment from South Korea totaled $95 billion. The South Korean government has said its investments would be based on the economic feasibility of the projects.

Article source: https://www.nytimes.com/2026/09/30/business/economy/alaska-lng-south-korea-trump.html