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Trump Says South Korea Will Invest $54B in Natural Gas Project in Alaska

Trump announced that South Korea plans to invest in the Alaska project, though South Korean officials said no commitment was final.

Trump Says South Korea Will Invest $54B in Natural Gas Project in Alaska
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This article1 analysis · Oct 3, 2026

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Sep 30, 2026
tl;dr

Donald Trump said South Korea plans to invest about $54 billion in an Alaska natural gas project, but South Korean officials said the investment is not finalized. The announcement also spotlighted Alaska Sen. Dan Sullivan, who is seeking reelection and has advocated for the project.

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Donald Trump R · President of the United States
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Donald Trump
R · President of the United States

President who announced the proposed investment

PRIMARY SUBJECT
Dan Sullivan
R · AK · SEN

Alaska senator and advocate for the proposed natural gas project

Sullivan's version of this story ↗

Democratic Iowa Senate candidate

Ashley Hinson
R · IA-2

Iowa representative in a Senate race

Mary Peltola
Former U.S. Representative (D-AK)

Democratic Senate candidate and Sullivan’s challenger

Joni Ernst
R · IA · SEN

Republican senator whose Iowa seat is being vacated

ALSO MENTIONED  Han Jeoungae, South Korean Democratic Party secretary-general; Lee Jae Myung, South Korean president

Part of a bigger story

10 OUTLETS
Trump Announces Planned South Korean Investment in Alaska Gas Project

Donald Trump announced plans for roughly $54 billion in South Korean investment in an Alaska natural-gas project long backed by Sen. Dan Sullivan. The proposed investment has not been finalized. Left-leaning outlets portray the announcement as presenting an early-stage proposal as a deal and as an effort to help Sullivan. Center outlets mostly place it in the context of Sullivan's competitive race, while noting uncertainty about the investment and, in some coverage, focusing on Trump's political pitch.

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