South Korea Dumps Cold Water on Trump’s Big Natural Gas Announcement
Donald Trump bragged South Korea had agreed to invest $54 billion in a liquid natural gas pipeline in Alaska.

Did President Trump just lie about a massive investment from South Korea?
Trump announced Wednesday that South Korea had agreed to invest $200 billion in energy infrastructure, including a $54 billion investment in the long-discussed liquefied natural gas pipeline in Alaska—but South Korea claims they never committed to funding that project.
“What the Korean government agreed with the U.S. is that the Alaska project will proceed only if it is commercially viable,” said Kim Jung-kwan, South Korea’s minister of trade, industry and resources, according to Bloomberg.
“What was reported today went beyond what had been agreed,” he said, and expressed Seoul’s regrets to Commerce Secretary Howard Lutnick.
It’s not clear whether the Trump administration was aware that the commitment wasn’t set in stone, or if it believed it could manifest the funds by simply announcing them, or if—in true Trumpian fashion—it doesn’t care whether they’re real or not and this was all for show.
But I’ll tell you one person who definitely should care: Republican Senator Dan Sullivan, the vulnerable incumbent in Alaska’s Senate race.
“This is the project that is gonna keep our kids and grandkids in Alaska with a great bright future. This is the project that our state has been working on to try to get done for almost a half century,” Sullivan said Wednesday during a press conference in the Oval Office, adding that the project would create more than 10,000 jobs and provide low cost energy to Alaskans for 50 to 100 years. (The project has faced legal challenges from environmental groups concerned it will increase fossil fuel emissions and accelerate the climate crisis.)
Whether or not South Korea’s commitment is the real deal could potentially make or break Sullivan’s reelection campaign: Recent polls showed that Democratic challenger Mary Peltola has a slight lead on Sullivan.
This wouldn’t be the first time the president has lied about the amount of investment pouring in from foreign countries, The New York Times reported. Over the course of 2025, Trump claimed to have received up to $21 trillion in foreign investments—nearly twice the amount that the White House’s own tracking website states for foreign and domestic investments combined.



