South Korean President Lee Jae Myung has expressed caution over Seoul’s involvement in the Alaska liquefied natural gas (LNG) project after U.S. President Donald Trump announced that South Korea would invest up to $200 billion in various American energy infrastructure initiatives. While Trump touted this commitment as one of the largest energy investments in U.S. history, including a $50 billion stake in the Alaska LNG project, President Lee clarified that South Korea’s participation in the project remains conditional on its commercial viability and adherence to domestic legal standards.

The broader South Korean investment plan encompasses nuclear power plants, a natural gas facility in Texas, and potentially the Alaska LNG project. The Alaska LNG project aims to transport natural gas from the state’s North Slope to the southern coast for export, but it has faced doubts about its economic feasibility due to the significant initial investment required. South Korea’s industry minister previously described the project as “high-risk,” signaling the government's hesitance without assurance of adequate cash flow.

The $200 billion investment also includes a $22.3 billion natural gas power plant in Encinal, Texas, designed to supply electricity to nearby data centers. This Texas project will be led by Related Cos. and NextEra Energy, with staged commercial operations beginning in 2029 and full completion expected by 2032. Both governments have expressed intentions to expand Korean companies’ roles in equipment supply, engineering, construction, and long-term operations for this project and similar U.S. infrastructure.

In addition to natural gas projects, about $120 billion is allocated toward building eight large nuclear reactors in the U.S., with $100 billion set for construction and $20 billion as contingency reserves. The nuclear deal involves South Korean firms Korea Electric Power Corp. and Korea Hydro & Nuclear Power alongside Westinghouse Electric. Discussions also include potential South Korean minority investments in Westinghouse, although terms are still subject to commercial negotiations. Overall, while Trump projects these plans as transformative for U.S. energy and jobs, South Korea’s final commitments remain contingent on thorough commercial and legal reviews.