South Korea Responds to Trump's Claims on Alaska Investment

South Korean President Lee Jae Myung responded to President Donald Trump’s statement regarding Korea's commitment to invest hundreds of billions of dollars in U.S. projects, including up to $54 billion for a natural gas pipeline in Alaska. In a post on Truth Social, Trump celebrated the U.S.-Korea agreement to construct eight large-scale nuclear reactors and significant investment in the Alaska LNG project, which aims to transport natural gas over 800 miles from Alaska’s Arctic region to domestic and international markets. However, Lee clarified on X that the Alaska LNG project will advance to working level only if its commercial viability is confirmed and it complies with South Korean legal procedures. South Korea’s Minister of Trade, Industry and Energy, Kim Jung-kwan, stated he lodged a strong protest with U.S. Secretary of Commerce Howard Lutnick, asserting that Trump's announcement exceeded what was agreed upon. Kim emphasized that the countries agreed to proceed with the Alaska project solely under the condition of guaranteed commercial reasonableness. White House spokesperson Taylor Rogers defended Trump’s remarks, calling the announcement historic for Alaska, the U.S., and South Korea. Rogers noted that the project is expected to create 12,000 construction jobs and 1,300 permanent operational jobs, generating $25 billion in state and local revenue and providing $10 billion in energy savings for Alaska. The Commerce Department did not respond immediately to a request for comment. The Korean government had previously identified a $22 billion Texas power plant as the only formally agreed project within their strategic investment framework, while other nuclear and Alaska energy projects were described as needing further review. Trump had previously threatened South Korea with 25% tariffs in April 2025 as part of a broader tariff announcement, a move later struck down by the Supreme Court in February. Following a letter from Trump threatening to reinstate higher tariffs, South Korea agreed to a 15% tariff rate in July 2025 in exchange for $350 billion in U.S. investment, which has been a source of ongoing tension between the two nations. The Memorandum of Understanding signed in November 2025 by the U.S. and South Korea included pledges for $200 billion in strategic investments and $150 billion in shipbuilding projects, though specific details have often not been disclosed.