Trump claims South Korea's investment in $8.4 billion crude oil project

U.S. President Donald Trump claimed on the 2nd (local time) that Korea will invest $8.4 billion (about 11.3 trillion won) in oil-related projects through negotiations between Korea and the United States.

President Trump wrote on the social media platform TruthSocial on this day, "I am pleased to announce that negotiations with Korea continue to improve," adding, "$8.4 billion for the Enhanced Oil Recovery project."

This can be interpreted as a claim that Korea decided to invest $8.4 billion in the project.

‘Improved crude oil recovery’ refers to a technology that produces more crude oil by injecting carbon dioxide, etc. into the oil field to increase internal pressure.

In a TruthSocial post, President Trump wrote, “Increased oil and gas production signifies America’s energy hegemony and future global energy security.”

However, it is unclear what exactly the 'crude oil recovery enhancement project' mentioned by President Trump means and whether Korea and the United States reached an agreement in this regard during negotiations on investment projects in the United States.

Previously, when President Trump announced Korea's first investment projects in the United States at the White House on the 30th of last month, he unilaterally announced the Alaska liquefied natural gas (LNG) development project, which had not been fully agreed upon, as if it had been agreed upon, and also revealed a specific investment size of 'more than $50 billion'.