Trump unveils South Korea’s $200 billion investment in the U.S., here is what it includes

U.S. President Donald Trump on Wednesday unveiled plans for South Korea to invest around $200 billion in American projects, but Seoul suggested that a key element, a $54 billion pipeline for an LNG project in Alaska, was not yet defined.

The White House announcement constituted the first group of major projects under a broader $350 billion strategic investment package that South Korea pledged as part of a trade deal with Washington last year. The package included $150 billion for shipbuilding and $200 billion for strategic investments.

“Thanks to the deals my administration has secured with the Republic of Korea, they will invest up to $200 billion,” Trump said from the Oval Office.

He said the investment would include the construction of eight large-scale nuclear power plants, a natural gas pipeline and a 6-gigawatt power generation plant in Texas.

The announcement is the latest in a series of economic and investment deals that Trump is highlighting ahead of November’s midterm elections, as he seeks to bolster his economic record amid voter concerns over the Iran war and high gasoline prices.

The pipeline project could carry political significance in Alaska, where Republican Senator Dan Sullivan faces a competitive re-election race against Democrat Mary Peltola. Sullivan took part in Wednesday’s announcement.

However, the South Korean government said the pipeline project would proceed only if certain commercial and legal conditions are met. Seoul confirmed other elements of Trump’s announcement, saying it would invest $22.3 billion in a gas power project in Texas to supply energy to artificial intelligence data centers, as well as $120 billion to build eight nuclear reactors.