Trump unveils $200B South Korean investment plan for US energy projects

US President Donald Trump announced Wednesday that South Korea will invest $200 billion in major US energy and strategic projects including nuclear power, liquefied natural gas (LNG) and natural gas infrastructure.

Trump said in a post on his Truth Social platform that the investments were agreed to during his recent meeting with South Korean President Lee Jae Myung in New York on the sidelines of the UN General Assembly.

He said the investments, including a $120 billion nuclear power program to build eight large-scale nuclear reactors in the US, fall under a $350 billion Korea Strategic Trade and Investment Deal he reached with Lee last year.

Trump said Washington and Seoul also agreed to collaborate on a $50 billion Alaska LNG project, adding it "will deliver transformational change for the People of Alaska."

The package also includes a $22 billion 6.4-gigawatt natural gas-fired power project in Encinal, Texas, he 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."