Trump to unveil $200 billion South Korean investment plan

U.S. President Donald Trump is expected to unveil a $200 billion strategic investment package with South Korea that reportedly includes the Alaska liquefied natural gas project, even though Seoul has yet to decide whether to take part. The move could leave South Korea with less room to negotiate the terms of its participation later.

South Korea’s Ministry of Trade, Industry and Energy said Tuesday that Trump will unveil the package alongside Commerce Secretary Howard Lutnick at the White House on Wednesday, South Korea time. Reuters and Bloomberg News reported that the package includes $54 billion in South Korean investment in the Alaska LNG project.

Alaska Sen. Dan Sullivan, Rep. Nick Begich III and Gov. Mike Dunleavy, all Republicans, are expected to attend the White House announcement. Trump is likely to tout the Alaska investment as an economic achievement in the closely contested state ahead of the Nov. 3 U.S. Senate midterm elections, while seeking to bolster Republican candidates. Bloomberg described the announcement as the latest example of Trump using the power of the presidency and his leverage in international negotiations to benefit Republican candidates ahead of the midterms.

The South Korean government says it has not decided whether to participate in the Alaska LNG project or how much it would invest, saying the proposal requires further review. But once Trump announces the investment as part of the bilateral package, it could leave Seoul with less room to negotiate or walk back the commitment later.


세종=정순구 soon9@donga.com