Trump: "South Korea to Invest $50 Billion in Alaska LNG"

Also Emphasizes Taiwan LNG Purchases and Japanese Investment

U.S. President Donald Trump again claimed that South Korea had agreed to invest $50 billion in the Alaska liquefied natural gas (LNG) development project. He also cited Taiwan's LNG investment plans and Japan's investment in a semiconductor plant in New York, presenting them as achievements of tariff agreements. The South Korean government, however, says it has not finalized an investment in the Alaska project, while Taiwan said that negotiations on specific investment terms and purchase contracts are still underway.

U.S. President Donald Trump announces details of South Korea's investment in the United States on the 30th (local time). White House website

On October 14 (local time), President Trump wrote on Truth Social, "I announced the launch of the Alaska LNG project, the largest energy infrastructure project in Alaska's history," adding, "South Korea's $50 billion infrastructure investment is part of the trade and investment agreement between our two countries." He reiterated South Korea's participation in the investment after a campaign rally the previous day in Alaska in support of Republican senators.

The South Korean government had previously said it would consider the Alaska LNG project on the condition that it was commercially viable and went through domestic procedures. At the time, the Ministry of Trade, Industry and Energy said that neither the decision to invest nor the amount had been determined.

As for Taiwan, President Trump claimed it had agreed to invest $4.4 billion in the Alaska LNG project and purchase 30% of pipeline gas production over the next 20 years. He said the purchase commitment was worth $70 billion to $80 billion.

Taiwan's Ministry of Economic Affairs confirmed that state-owned energy company CPC had made significant progress in negotiations with the project developer. CPC is pursuing a plan to purchase 6 million tons annually once production begins and invest up to $4.4 billion.

However, specific terms, including the equity stake and investment structure, are due to be determined through further negotiations and commercial contract procedures, and it has not been disclosed whether a binding purchase contract has been signed.

In a separate post, President Trump announced that Japan would invest up to $21 billion in two GlobalFoundries semiconductor plants in Malta, New York. Under the plan, Japan would provide the funding, while GlobalFoundries would supply the technology and operate the plants.

Construction on the first plant is set to begin this year, with production targeted for 2029. A decision on whether to build the second plant is expected before the end of 2028. The project is part of Japan's $550 billion investment plan in the United States, under which the two countries reached an agreement to lower tariffs on Japanese automobiles and other goods.

The U.S. government also announced an agreement to make an additional equity investment in GlobalFoundries. GlobalFoundries and the U.S. Department of Commerce agreed to reallocate up to $955 million from existing semiconductor subsidies to investments in silicon photonics, silicon germanium and advanced packaging. 

This does not increase the total amount of subsidies, but instead changes how the existing subsidies will be used. The company separately agreed to increase its investment in existing facilities to $5 billion.

President Trump cited both the plan to build plants with Japanese funding and the government's stake in GlobalFoundries, emphasizing that his trade agreements would strengthen the U.S. industrial base and create jobs. The U.S. government's stake in GlobalFoundries is set to increase from 3% to about 7%.

With the November 3 midterm elections approaching, President Trump is presenting investment and purchase plans involving South Korea, Taiwan and Japan as achievements of his tariff and trade policies. However, the three projects are at different stages of progress and vary in how firmly they have been finalized, so it is important to distinguish between the president's announcements and what the governments and companies involved have confirmed.

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