US official: Korea investment plan to be unveiled soon

Apr 03, 2026, 08:59 am

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President Lee Jae-myung presents a replica of a Silla gold crown to Donald Trump during their meeting in Gyeongju on Oct. 29, 2025. /Presidential Office Press Corps

A senior official in the administration of Donald Trump said South Korea is expected to announce a major investment project in the United States within the next few weeks, signaling progress in implementing a previously agreed $350 billion investment plan.

According to the Associated Press, the official made the remarks during a briefing on tariffs, noting that discussions between Seoul and Washington on project selection have advanced significantly.

A liquefied natural gas (LNG) export terminal project in Louisiana is reportedly the leading candidate for South Korea’s first investment initiative.

The South Korean government is reviewing the proposal while consulting domestic companies, aiming to structure the project in a way that maximizes participation by Korean firms. Plans under consideration include supplying materials through Korean steelmakers and securing LNG carrier orders for domestic shipbuilders.

Officials also view the project as a way to diversify energy imports, as South Korea currently relies on the Middle East for nearly 20% of its natural gas supply.

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Industry Minister Kim Jung-kwan (right) poses for a photo with U.S. Commerce Secretary Howard Lutnick at the Department of Commerce in Washington, D.C., on Jan. 29. /Ministry of Trade, Industry and Energy

Meanwhile, South Korea’s National Assembly last month passed a special law to support overseas investment in the U.S., providing a legal framework for establishing a state-led investment entity. The bill passed with overwhelming support, receiving 226 votes in favor.

Under the agreement, $150 billion is allocated for shipbuilding cooperation, while the remaining $200 billion will be invested in strategic industries such as semiconductors, pharmaceuticals, critical minerals, energy, artificial intelligence, and quantum computing.

The move comes as Japan has already announced its second round of U.S. investment projects, increasing pressure on South Korea to accelerate implementation of its own commitments.

#South Korea US investment #Donald Trump #LNG terminal #Louisiana #Korea investment law