Trump to unveil South Korea’s $200 billion U.S. investment plan today: $54 billion for the Alaska LNG project

U.S. President Donald Trump is expected to unveil in the Oval Office on Wednesday (September 30, 2026) South Korea’s plan to invest about $200 billion in the United States, including $54 billion for the Alaska liquefied natural gas project (Alaska LNG), according to sources of Bloomberg.

The package is the first tranche of projects under last year’s U.S.–South Korea trade deal, which envisaged $350 billion in investment — $150 billion for shipbuilding and $200 billion for other strategic industries — and lowered U.S. tariffs on Korean goods to 15%.

The Alaska LNG project envisages transporting gas from the North Slope through a pipeline of about 800 miles to the liquefaction and export terminal in Nikiski, mainly for Asian buyers. The project is being developed by the private company Glenfarne Group and has preliminary agreements with importers, but has not yet taken a final investment decision.

The project enjoys the support of Republican Senator Dan Sullivan, who is in a tight race for re-election. Expected to attend the ceremony are Sullivan, Congressman Nick Begich, Alaska Governor Mike Dunleavy, Commerce Secretary Howard Lutnick and Interior Secretary Doug Burgum.

The package also includes eight nuclear reactors, a possible investment in Westinghouse Electric and a 6.3-gigawatt natural gas energy complex in Encinal, Texas — worth about $22 billion — for data centres and chip production.