Key facts
- A South Korean lawmaker said President Trump is due to announce details of South Korea's planned investment in the U.S. on Friday, September 18.
- Projects discussed include a Texas gas project, eight nuclear reactors, an Alaskan liquefied natural gas scheme, nuclear material reprocessing, and carbon capture.
- South Korea committed $350 billion of investments to U.S. manufacturing in a trade deal last October.
- The finance minister nominee stated that discussions were ongoing and details could not be disclosed.
A South Korean lawmaker stated on Tuesday that U.S. President Donald Trump was expected to announce details of South Korea's planned investment in the United States on Friday, September 18. Yoon Hu-duk, a lawmaker from the ruling Democratic Party, made the assertion during the questioning of Lee Hyoung-il, the country's finance minister nominee. Yoon also inquired about specific projects being discussed under Seoul's proposed $350 billion U.S. investment commitment.
Projects mentioned by Yoon included a gas project in Texas, the construction of eight nuclear reactors, and an Alaskan liquefied natural gas scheme. A fourth project reportedly involved the U.S. seeking the reprocessing of approximately 4,000 tons of nuclear material, and a fifth concerned carbon capture. Lee responded that the matter was still under consultation and declined to disclose details of bilateral talks.
South Korea has not officially confirmed any details of the negotiations, though a source with direct knowledge indicated the industry ministry briefed DP lawmakers last week, and local media have also reported on some projects. South Korean Industry Minister Kim Jung-kwan had previously said that the two sides were close to an agreement on many issues, but cautioned that several matters remained unresolved.
In October, President Trump and South Korean President Lee Jae Myung reached a trade deal where South Korea committed $350 billion of investments to U.S. manufacturing in exchange for Washington capping tariffs on Korean imports at 15%. Of this total, $150 billion was designated for shipbuilding. Implementation of this deal has faced delays, leading Trump to previously threaten South Korea with higher tariffs.