SEOUL, October 15 (AJP) - U.S. President Donald Trump has been touting multibillion-dollar deals with Asian economies on the midterm campaign trail, again presenting South Korea’s participation in an Alaska gas project as secured despite Seoul’s insistence that any investment must first prove commercially viable.
Trump extended the investment pitch Wednesday to Taiwanese purchases of Alaskan liquefied natural gas and Japanese financing for semiconductor factories in New York. Those announcements have received backing from Taiwan’s government and the chipmaker involved, although Taipei says key investment terms still require negotiation.
In an Oct. 13 release accompanying Trump’s visit to Alaska, the White House listed a $200 billion South Korean energy investment package among his accomplishments, specifying $54 billion to construct a natural gas pipeline in the state.
The release presented the Alaska investment as an announced commitment without mentioning Seoul’s conditions or the absence of a final investment decision.
Trump repeated the claim Wednesday on Truth Social, this time putting the Korean investment at $50 billion.
“This 50 Billion Dollar Infrastructure Investment from The Republic of Korea is part of their Trade and Investment Deal with me,” he wrote.
Seoul has consistently drawn a distinction between agreeing to review the project and committing money. The bilateral fact sheet made work on Alaska LNG conditional on commercial viability and compliance with domestic legal requirements.
Trump’s latest claims followed a Tuesday rally in Alaska supporting Republican Sen. Dan Sullivan ahead of the November congressional elections. He said Taiwan’s planned LNG purchases would be worth $70 billion to $80 billion over 20 years.
Taiwan’s Ministry of Economic Affairs confirmed Wednesday that state-owned CPC Corp. was planning to buy 6 million metric tons annually and invest up to $4.4 billion in the project.
But the ministry said investment arrangements, ownership stakes and other conditions would be determined through further negotiations and contracting procedures. Project studies and budget approvals would also follow company procedures. Supply could begin in 2032 at the earliest if development proceeds as planned.
Separately, GlobalFoundries confirmed Wednesday that it had been selected to operate two new semiconductor factories in Malta, New York, under a U.S.-Japan initiative providing up to $21 billion in funding.
The company said Japan would provide financing while GlobalFoundries supplied the technology and operated the plants. About $10 billion would accelerate the first factory, expected to open in 2029, with roughly another $10 billion funding a second facility.
For Alaska LNG, the commercial hurdles extend beyond securing political endorsements. The project needs to convert preliminary purchase arrangements into binding contracts to obtain financing — a distinction that remains central to whether Trump’s announced investment gains become operating infrastructure.
AJP Takeaways
- Trump is presenting South Korea’s participation in Alaska LNG as a secured multibillion-dollar investment, while Seoul says any commitment remains conditional on commercial viability and legal procedures.
- Taiwan has confirmed plans to buy Alaskan LNG and invest up to $4.4 billion, but key terms including ownership and financing still require negotiation and approval.
- The latest U.S.-Asia investment announcements show political momentum, but Alaska LNG still needs binding contracts and financing before the projects become operational.
Copyright ⓒ Aju Press All rights reserved.
