SEOUL, 6 November 2025 — South Korea’s Minister of Trade, Industry and Resources Kim Jung-kwan said the Alaska LNG (liquefied natural gas) project is unlikely to qualify for inclusion in the U.S.-bound investment fund, describing gas pipeline ventures as high-risk and commercially limited.
Speaking at a National Assembly Budget and Accounts Committee session in Yeouido, Seoul, Kim stated, “Gas pipeline projects are high-risk ventures,” adding, “Commercial viability applies only to projects capable of generating cash flow, so under our criteria, the Alaska gas field does not easily qualify.”
His remarks contrast with the Trump administration’s earlier suggestion that South Korea could take part in the Alaska gas field development.
The South Korean government had previously said that the $200 billion cash portion of its U.S. investment commitment, linked to the outcome of Korea-U.S. tariff negotiations, would be restricted to projects with commercial viability. Minister Kim clarified that the Alaska gas project does not meet this benchmark.
When Rep. Bae Joon-young of the People Power Party asked whether the project could be regarded as outside the list of eligible investments, Kim replied, “At this moment, yes.” He added that “because of gas security diversification, both the government and domestic companies are watching the project’s progress with interest.”
Earlier, U.S. Secretary of Commerce Howard Lutnick said on social media on 30 October that, of the $350 billion South Korea agreed to invest in the United States, $200 billion would go toward projects such as the Alaska natural gas pipeline, energy infrastructure, critical minerals, advanced manufacturing, artificial intelligence (AI), and quantum computing.
