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Trump: Korea to Pour USD200B Into US Nuclear, LNG, Gas Projects
(MENAFN) South Korea will invest $200 billion in major US energy and strategic projects, including nuclear power, liquefied natural gas (LNG) and natural gas infrastructure, President Donald Trump announced Wednesday.
In a post on Truth Social, Trump said the commitments were struck during his recent meeting with South Korean President Lee Jae Myung in New York, held on the sidelines of the UN General Assembly.
The largest piece is a $120 billion nuclear power program to construct eight large-scale reactors on US soil. Trump said it falls under the $350 billion Korea Strategic Trade and Investment Deal he reached with Lee last year, along with the rest of the package.
Washington and Seoul also agreed to work together on a $50 billion Alaska LNG project, which Trump said "will deliver transformational change for the People of Alaska."
The package further includes a $22 billion, 6.4-gigawatt natural gas-fired power project in Encinal, Texas, the president said.
"These Deals are driven by our Trade Deals," he said. "We are turning Korea’s Investment commitments into HUGE Construction Projects, and tens of thousands of AMERICAN JOBS."
In a post on Truth Social, Trump said the commitments were struck during his recent meeting with South Korean President Lee Jae Myung in New York, held on the sidelines of the UN General Assembly.
The largest piece is a $120 billion nuclear power program to construct eight large-scale reactors on US soil. Trump said it falls under the $350 billion Korea Strategic Trade and Investment Deal he reached with Lee last year, along with the rest of the package.
Washington and Seoul also agreed to work together on a $50 billion Alaska LNG project, which Trump said "will deliver transformational change for the People of Alaska."
The package further includes a $22 billion, 6.4-gigawatt natural gas-fired power project in Encinal, Texas, the president said.
"These Deals are driven by our Trade Deals," he said. "We are turning Korea’s Investment commitments into HUGE Construction Projects, and tens of thousands of AMERICAN JOBS."
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