Trump May Announce South Korean Investment Plans in the U.S. as Early as the 30th

Encinal Power Plant in Texas to Be the First Project
Alaska to Remain Subject to Further Negotiation

U.S. President Donald Trump is reportedly expected to announce South Korea’s investment projects in the United States as early as September 30 (local time).

According to foreign media reports on September 29, President Trump may unveil South Korea’s investment plans in the U.S. on September 30, including the Alaska LNG development project. There is growing interest in whether the Alaska liquefied natural gas (LNG) development project—which the South Korean government has classified as requiring further negotiations—will be included in the announcement.

U.S. President Donald Trump. The White House

The project South Korea is prioritizing is the Encinal gas combined cycle power plant in Texas. The Financial Times (FT) recently reported that South Korea is pursuing the 22.3 billion dollar construction of the Encinal power plant as the first project under the 350 billion dollar investment commitment agreed with the U.S. last year. This project is aimed at meeting the rising electricity demand from data centers and semiconductor plants in Texas.

The South Korean government recently reported to the National Assembly on the progress of its 200 billion dollar strategic investment in the U.S., presenting the Encinal power plant as the first initiative. The construction of eight large-scale nuclear power plants and the Alaska LNG development in the U.S. are classified as being under additional negotiation. Since the Alaska project is still in the review and discussion stage, if it is included in President Trump’s announcement, it must be separately confirmed whether the specific investment size and terms have been finalized.

President Trump has repeatedly mentioned the participation of South Korea and Japan in Alaska energy projects. On September 2, during a briefing at the White House supporting the re-election campaign of Alaska Republican Senator Dan Sullivan, he stated that South Korea, Japan, and others would secure fuel and build pipelines in Alaska. At that time as well, the specific size and method of investment by both countries had not been finalized.

Last year, South Korea pledged a total of 350 billion dollars in investment in the U.S. during trade negotiations, in exchange for lowering tariff rates from 25% to 15%. Of this, 150 billion dollars was allocated to cooperation in the shipbuilding sector, and 200 billion dollars was designated for strategic investment.

This content was produced with the assistance of AI translation services.