S. Korean envoy reaffirms Seoul's conditional approach to proposed Alaska LNG project

Detailed summary

By Chang Dong-woo WASHINGTON, Nov. 11 (Yonhap) -- South Korea's top envoy to the Un...

WASHINGTON, Nov. 11 (Yonhap) -- South Korea's top envoy to the United States on Wednesday reaffirmed Seoul's willingness to cooperate on a proposed Alaska liquefied natural gas (LNG) project while emphasizing commercial and legal conditions for participation.

Ambassador Kang Kyung-wha made the remarks in an opinion piece published in the Washington Post, outlining progress in South Korea's US$350 billion investment commitment to the U.S.

"Korea and the U.S. have also agreed to commence working on the Alaska LNG project, subject to meeting commercial reasonableness and applicable domestic legal requirements," Kang wrote.

Her remarks came amid differences between Seoul and Washington over the status of the proposed project.

The White House previously said $54 billion was tied to the Alaska project, but Seoul has maintained that its participation remains subject to a commercial viability review.

Kang did not specify an investment figure for the Alaska project, even as she outlined financial commitments for other major energy initiatives in the United States.

She said the two governments had agreed on a framework for up to $120 billion in Korean investment to build eight large-scale nuclear reactors in the United States.

"This would involve up to $120 billion in Korean investment in eight large-scale reactors to be built by Korean and American companies," she wrote.

Kang also stressed the importance of mutual trust and honoring commitments as the alliance expands into advanced technologies and other strategic sectors.

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