Trump Courts Voters with Korean Investment in U.S., Declares Alaska LNG Project a Done Deal

Announcement of $200 Billion Mega Energy Investment

Includes Eight Nuclear Plants and Alaska LNG

Trump Appeals for Support for Sullivan in Alaska

Lutnick: "Fully Funded by the Korean Government"

On the 30th (local time), U.S. President Donald Trump announced details of South Korea's investment into the United States as part of his efforts to appeal to voters ahead of the midterm elections. President Trump presented not only the already confirmed Texas gas power plant project but also declared as fact additional deals, including the construction of eight nuclear power plants and the development of liquefied natural gas (LNG) in Alaska, which had previously been left for further negotiation.

He specifically emphasized that the Alaska LNG project would proceed thanks to Korean investment, making a direct appeal for the support of local Republican senators. However, the joint statement issued by both sides specified that Alaska's LNG project is still subject to review based on its commercial viability and other considerations.

President Trump, speaking in the Oval Office with Commerce Secretary Howard Lutnick, Secretary of the Interior Doug Burgum, and Secretary of Energy Chris Wright in attendance, stated, "Under the agreement our administration has reached with South Korea, the Korean government will invest up to $200 billion."

He further commented, "South Korea is required to invest hundreds of billions of dollars. In return, I lowered tariffs to 15 percent," adding, "A portion of those funds will be used for these projects." President Trump noted that, given the massive scope of the projects, securing funding may have been a challenge without Korea's investment.

This indicates that out of the promised $350 billion investment package—agreed upon in return for lowering U.S. tariffs from 25 percent to 15 percent—$200 billion is being allocated to specific strategic projects.

The investment targets include: ▲ power facilities in Texas ▲ eight new large-scale nuclear plants ▲ the Alaska LNG pipeline. However, the scope of projects announced by the U.S. side differed from those confirmed by the Korean government. The Korean government designated a $22.3 billion project to construct a gas combined-cycle power plant in Encinal, Texas, as the first phase. Plans for the individual nuclear power plant projects will be announced once the site, timeline, and commercial terms are finalized. As for the Alaska LNG project, it remains under conditional review, and no specific investment amount was disclosed in the joint statement.

Regarding the investment amounts and funding sources for each U.S. project, Secretary Lutnick spoke directly. He explained that the three projects announced that day would cost just under $200 billion. He also stated, "These projects will be funded entirely by the Korean government and used for America's benefit."

Secretary Lutnick identified the construction of eight nuclear reactors as the largest project, noting, "We will build eight large nuclear power plants with a project budget of $100 billion plus a $20 billion contingency fund." He emphasized that the nuclear plants would be built in Ohio, Tennessee, South Carolina, and Kentucky.

He further explained, "Just over $50 billion will be invested in the Alaska LNG project," adding, "Finally, a gas-fired power plant with a capacity of over 6.5GW will be built in Texas at a cost of more than $22 billion."

Direct Appeal for Alaska Republican Support at Investment Announcement Event

During the announcement, the intention to highlight the Alaska LNG project as a major achievement was clear. President Trump claimed that the Alaska LNG project could create up to 12,000 construction jobs and 1,000 operational jobs, and reduce annual household energy costs by as much as $1,500, and in some cases up to $2,200.

President Trump referred to Alaska Senator Dan Sullivan, who attended the event, as "an excellent senator who is entirely responsible for this project." He continued by criticizing other candidates and urged voters, "Vote for the one whose name starts with S in this midterm election."

Secretary Lutnick also remarked that investment in the Alaska LNG project "would change the geopolitics," explaining that it would increase Asia's dependence on U.S. natural gas.

According to AP, with incumbent Republican Senator Sullivan locked in a fierce race with Democratic candidate Mary Peltola, President Trump credited Sullivan for leading the push for the region's long-awaited project and offered his support. Alaska is a key battleground in the race for a Senate majority in these midterm elections.

Kim Dongseok, head of the Korean American Voters Coalition, commented, "To retake the Senate in these midterm elections, the Democrats must defend their seats in Georgia, New Hampshire, and Michigan, and win in at least four of the six Republican-held states—North Carolina, Texas, Ohio, Iowa, Maine, and Alaska." The project locations—Texas (gas power plant), Alaska (LNG), and Ohio (eight nuclear reactors)—therefore align with key Republican battlegrounds.

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