President Trump announces up to $200 billion in South Korean investment in the US — The Hill

US President Donald Trump said that the South Korean government will invest up to $200 billion in the United States’ energy infrastructure. He announced this during remarks in the Oval Office, The Hill reports.

Alaska LNG project

According to Trump, part of the funds will be directed to Alaska LNG, an energy project in Alaska. The US president said it is intended to help the country increase natural gas exports.

Trump also said that South Korea’s investment in Alaska LNG will amount to $54 billion. The White House called Alaska LNG the largest proposed energy infrastructure project in US history.

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Other facilities

The announced investment package also includes a natural gas facility in Texas and eight new nuclear power plants in different parts of the United States, Trump said.

According to him, the arrangement is part of a trade deal between the United States and South Korea. Under this deal, the United States is to reduce the tariff rate for South Korea to 15% in exchange for investments worth hundreds of billions of dollars.