Trump has pressured South Korea to commit to a $50 billion Alaska LNG project, threatening to "double" costs if Seoul does not sign quickly. "If they don't want to do it, that's OK with me. I'll just charge them more," Trump told reporters Friday, according to the White House. "Tell them if they don't sign shortly, I'm going to double it up."
Trump did not clarify what he would double. South Korean media reported the threat could refer to higher tariffs on the country.
The pressure follows a dispute over energy and infrastructure deals announced by Trump. Washington has publicly committed South Korea to projects that Seoul says remain under assessment. South Korea stated the Alaska LNG project is still being evaluated based on commercial viability and domestic legal requirements.
Trump announced an additional $8.4 billion enhanced oil recovery project on Truth Social Friday, saying South Korea's overall investment deal "keeps getting BETTER." Enhanced oil recovery uses carbon dioxide injection and other techniques to extract additional crude from existing oil fields.
South Korean local media reported that the oil recovery project was not part of agreements reached between Seoul and Washington. South Korea's industry ministry said it was seeking clarification from the U.S. through trade channels and attempting to verify Trump's announcement. The ministry had not confirmed the project's inclusion in any finalized deal.
The discrepancy reflects a pattern of Trump announcing commitments before Seoul has formally agreed. South Korea has not denied the projects are being discussed but has emphasized that any participation depends on commercial terms and internal approval processes.
Trump's conditional language around costs suggests the administration is linking energy investments to broader trade relationships with South Korea, though the specific mechanism for the threatened increase remains undefined.