US President Donald Trump warned that South Korea could face higher costs unless it quickly commits to investing in a massive liquefied natural gas project in Alaska, escalating pressure on the Asian ally, which says the investmet has not yet been finalized.
Speaking to reporters at the White House on Friday, Trump rejected suggestions that he had prematurely announced Seoul’s participation in the Alaska LNG project earlier this week.
"I didn't jump the gun. I mean, they were there and they were represented," he told reporters. "And let's see, if they don't want to do it, that's okay with me. I'll just charge them more."
When a reporter again noted that South Korea said it had not agreed to the project, Trump responded, "Tell them if they don't sign shortly, I'm going to double it up."
Trump did not specify what he meant by "double," leaving unclear whether he was referring to tariffs, South Korea’s investment commitments or some other financial burden. His comments, however, marked a sharp escalation in pressure on Seoul to join the costly Alaska project.
The remarks came just two days after Trump announced a series of South Korean investments in US energy infrastructure under a broader $350 billion investment package agreed to as part of a trade deal between the two countries last year.
Trump and US officials said Wednesday that more than $50 billion would be directed toward the Alaska LNG project, in addition to eight large-scale nuclear reactors and a $22.3 billion gas-fired power complex in Texas. US officials have described the Alaska development as a roughly $54 billion project.
Seoul, however, has said no final decision has been made on whether to invest in the Alaska project or how much it would commit, stressing that participation remains subject to further negotiations and reviews of commercial feasibility and legal requirements.
sahn@heraldcorp.com
