Trump set to highlight proposed $54 billion South Korean Alaska investment
The White House says President Donald Trump is expected to announce roughly $54 billion in proposed South Korean investment in an Alaska natural-gas export project. The announcement comes from pledges linked to a 2025 trade deal and as Republican Senator Dan Sullivan faces a competitive re-election contest.
President Donald Trump is expected to announce plans for South Korea to invest roughly $54 billion in an Alaska natural-gas export project, according to the White House. The proposal has long been supported by Republican Senator Dan Sullivan, who is seeking re-election in Alaska in a competitive contest against Democrat Mary Peltola. The investment would be drawn from commitments made under a 2025 trade agreement between the United States and South Korea.
That agreement included pledges for $350 billion in US investment in exchange for lower American tariffs on South Korean cars, auto parts and other products. The Alaska announcement would be the second time in the same week that Mr. Trump has highlighted foreign investment in a state where a Republican Senate candidate faces a close campaign.
The project includes an 807-mile, or 1,300-kilometre, natural-gas pipeline connecting Alaska’s North Slope to a liquefied natural-gas export terminal in southern Alaska. The White House said the project would eventually reduce energy costs for Alaska residents by providing a reliable and secure supply. Mr.
Trump had announced on Monday plans for a $15 billion steel plant in Iowa. That announcement also featured a Republican candidate in a competitive Senate race. Alaska and Iowa are among the states where Democrats are targeting Republican-held Senate seats in the 2026 midterm elections.
The announcements come as voters express concern about high fuel prices linked in the source material to the unresolved war with Iran, while Republicans in Congress face dissatisfaction over the economy. An AP-NORC poll from late July found that about one-third of Americans approved of Mr. Trump’s handling of the economy, while about seven in 10 described the economy as poor.
Democrats need a net gain of four seats in the 100-member Senate to take the majority, according to the report. The material does not say whether South Korea’s pledge has been finalised or provide a construction timetable for the Alaska project.
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