US President Donald Trump has announced that South Korea will invest $200 billion (€177 billion) in energy projects in the United States.
The investments would include $54 billion for a liquefied natural gas (LNG) pipeline project in Alaska, Trump said late Wednesday.
But on Thursday, Seoul said the Alaska LNG pipeline project had not yet been decided on, and that it would only proceed with the project once certain conditions are met.
The South Korean government has reportedly told Washington that it regrets Trump's announcement.
What did Trump say about the Alaska LNG project?
"Thanks to the agreements my administration has secured with the Republic of Korea, they will invest up to $200 billion," Trump said in the Oval Office on Wednesday.
In a post on his Truth Social platform, Trump said, "The United States and Korea have agreed to commence working together on the $50 billion ALASKA LNG PROJECT."
Trump also said South Korea would back a $22.3 billion natural gas-fired power project in Texas. "This will bring tremendous new, reliable power capacity to Texas," the US president said.
How has South Korea reacted to Trump's announcement?
South Korea on Thursday confirmed that the plans for the Texas natural gas power facility, which will supply power to AI data centers, would proceed. It also confirmed plans to invest $120 billion to build eight nuclear reactors.
But it said it had not yet decided on the Alaska LNG project, which South Korea said would be "considered on the condition that it is commercially viable and subject to relevant domestic legal procedures."
"No decision has been made regarding whether to invest in the project or the scale of any potential investment," South Korea's trade ministry said in a statement.
South Korean Industry Minister Kim Jung Kwan said that he had spoken to US Commerce Secretary Howard Lutnick to express his government's regret over Trump's announcement, South Korean news agency Yonhap reported.
In a post on X, President Lee Jae Myung also said that both the LNG project and the nuclear reactors' commercial viability must be confirmed before they can proceed.
Last month, Lee described negotiations on the projects as "very complex and difficult" and said that he had found some of Washington's terms "difficult to accept," although he did not elaborate further.
South Korea's Foreign Ministry, for its part, said it hoped the investment announcement would lead to progress in discussions in other areas, namely security.
During his tour of Asia this summer, Trump announced that the US would be "substantially reducing" its joint annual military exercises in South Korea.
The US leader cited what he considered insufficient support from Seoul for the war with Iran and his "very good relationship" with North Korean dictator Kim Jong Un.
What do we know about the South Korea-US trade agreement?
Under a trade deal signed in July 2025, South Korea had agreed to invest $350 billion in the US and increase purchases of US energy products, with the US setting a 15% tariff on South Korean imports to the US.
Trump's announcement was the first set of major projects under that trade agreement, which included $200 billion for strategic investments and $150 billion for shipbuilding.
The announcement is the latest in a series of economic deals Trump is touting in the run-up to November's midterm elections, which are expected to reflect voter concerns over high gasoline prices and the US-Israeli war with Iran.
If it goes forward, the Alaska LNG project will see an 800-mile (1,300 kilometer) pipeline carry natural gas from the North Slope to a liquefaction facility near Anchorage on Alaska's southern coast for shipping to Asian markets.
