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Trump says South Korea to invest $200 billion in U.S.– www.cnbc.com
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EXCERPT:
The U.S. and South Korea have announced “historic” investments by Seoul into America, with President Donald Trump saying the $200 billion in new investments will help transform his country “for generations.”
South Korean investment include nuclear power plants, a natural gas power facility in Texas and potentially the long-planned Alaska LNG project.
“We are thrilled to announce one of the largest energy infrastructure investments in American history,” Trump said at the White House on Wednesday, adding that South Korea would invest up to $200 billion.
South Korea’s participation in the Alaska LNG project is not yet finalized. The joint statement said that it would be contingent on “commercial reasonableness,” with no details on allocations toward the project.
Trump, however, in a Truth Social post late Wednesday stateside said the countries had agreed to work on the Alaska LNG project, pegging its value at $50 billion.
South Korea has stopped short of committing to that project over questions about its commercial viability. Industry Minister Kim Jung-kwan described it last year as a “high-risk” and said participation would be difficult unless it could generate sufficient cash flow, according to Yonhap News.
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