Trump unveils major South Korean investment in US: $200 billion to boost energy in Texas and Alaska

The United States and South Korea have made progress in implementing a strategic investment package worth up to $200 billion, as part of the trade agreement reached between the two countries. The plan includes a natural-gas-fired power plant in Texas, the construction of up to eight nuclear reactors and the evaluation of a major liquefied natural gas (LNG) project in Alaska.

The package was presented by President Donald Trump at the White House and represents one of the first concrete steps toward South Korea's commitment to invest $350 billion. Of that total, $150 billion is earmarked for cooperation in shipbuilding and $200 billion for strategic investments in the United States.

"We’re thrilled to announce one of the largest energy infrastructure investments in American history," Trump said from the Oval Office, where he was joined by elected officials from Alaska, including Senator Dan Sullivan and Governor Mike Dunleavy.

Sullivan, who will seek reelection in November against Democrat Mary Peltola, stated that the project is "the most important in our state." For his part, Dunleavy declared that the project "will transform the state of Alaska."

The first project involves a $22.3 billion investment to build a gas-fired power plant in Encinal, Texas. According to the South Korean government, the facility will be dedicated to supplying electricity directly to artificial intelligence data centers and is scheduled to begin commercial operations in 2029.

Meanwhile, the second project involves up to $120 billion to build eight nuclear reactors in the United States, while the third involves evaluating a South Korean investment in the Alaska LNG project, which includes the construction of a gas pipeline and a terminal to export liquefied natural gas to Asian markets. According to Reuters, the pipeline aims to produce up to 20 million metric tons of LNG per year for export.