Trump has pushed hard on $50B Korea investment claim

Vance acknowledges Seoul has flagged need for further talks

'Korea, Japan, Southeast Asia all want this to happen'

VP cites strong Asian demand as driver of project

US Vice President JD Vance speaks at a congressional roundtable on anti-fraud initiatives held in the Indian Treaty Room of the Eisenhower Executive Office Building in Washington on Monday (local time). [Getty Images]
US Vice President JD Vance speaks at a congressional roundtable on anti-fraud initiatives held in the Indian Treaty Room of the Eisenhower Executive Office Building in Washington on Monday (local time). [Getty Images]

US Vice President JD Vance said Monday (local time) that details of the Alaska LNG project still need to be worked out with South Korea — a notably different tone from President Donald Trump, who has insisted Seoul has already committed to investing more than $50 billion in the venture.

Speaking to reporters at Joint Base Andrews before departing for Alaska on Monday (local time), Vance was asked whether the United States would press ahead with the Alaska LNG project even if South Korea denied having finalized its investment. "There are clearly still some details that need to be worked out, and South Korea has noted that," he said.

The Alaska LNG project is a large-scale undertaking that would build an approximately 800-mile (1,300-kilometer) pipeline to transport natural gas from the North Slope in northern Alaska to the port of Nikiski in the south, along with liquefaction and export facilities.

Vance's remarks stand in contrast to Trump's assertion that South Korea's investment is already a done deal.

On Wednesday, Trump announced at the White House a package of South Korean investment plans in the United States, saying Seoul had agreed to invest more than $50 billion in the Alaska LNG project.

The South Korean government immediately drew a line, saying it had not agreed to any investment. Seoul's position is that the Alaska LNG project remains a subject for future consultations between the two countries, with no specific investment amount or structure finalized.

Trump pushed back hard on Friday, responding to Seoul's denial by saying, "They say they didn't agree?" and adding, "Tell them if they don't agree soon, we'll double it."

Vance, while acknowledging that further talks with South Korea are needed, expressed confidence in the project's viability.

He said South Korea, Japan and Southeast Asian nations all want the Alaska LNG project to succeed, not just the United States. "So I think this project is going to happen," he said.

He particularly pointed to demand for American natural gas across Asia as the driving force behind the project. "We think we can get this done because there really is strong demand for American natural gas," Vance said.

With Trump treating a large-scale South Korean investment as a foregone conclusion, Vance's public acknowledgment that details remain to be negotiated reconfirmed that US-South Korea consultations on the Alaska LNG project have yet to be concluded.

Vance traveled to Alaska that day to campaign for Republican Sen. Dan Sullivan, who is running for reelection to the US Senate in the midterm elections. In Alaska, a traditionally strong Republican state, Democratic Rep. Mary Peltola has been closing the gap on Sullivan, making the race increasingly competitive.


sjy@heraldcorp.com