The Democratic Party of Korea stated on October 1 that President Donald Trump’s unilateral announcement regarding the Alaska liquefied natural gas (LNG) development and related U.S. investment projects is not yet finalized. The party reiterated its commitment to reviewing these investment projects based on the principle of commercial viability.
Party Secretary General Han Jeong-ae dismissed the announcement on Facebook, stating, "The investment in the Alaska LNG project is not confirmed. We will thoroughly review it in accordance with domestic legal procedures based on the principle of commercial viability."
Han emphasized, "President Trump’s announcement appears to reflect the U.S. side’s unilateral stance," adding that the government is examining U.S. investment projects with a focus on commercial rationality.
Kwon Chil-seung, the party's policy committee chair, also expressed during a policy coordination meeting at the National Assembly that they aim to achieve tangible results while maintaining the principle of commercial viability in this U.S. investment project.
Kwon noted, "This agreement is significant as it allows our companies to expand into the U.S. market and enhance industrial cooperation," and pledged to ensure that this investment becomes a new growth opportunity for South Korea.
Oh Gi-hyung, the ruling party's secretary for the National Assembly's Finance and Economy Planning Committee, explained that they are also prioritizing commercial viability. He stated, "The U.S. government should present a business structure that ensures commercial viability, after which the South Korean government must provide the basis for its assessment. The National Assembly will review and judge based on the criteria of commercial viability."
Park Ji-hye added, "President Trump’s announcement seems to imply that our country should take charge of the Alaska LNG project," expressing hope for an opportunity to review economic rationality. She cautioned that if natural gas demand declines rapidly, there is a risk that the investment costs may not be recovered, and the potential for stranded assets should also be considered.
Party Secretary General Han Jeong-ae dismissed the announcement on Facebook, stating, "The investment in the Alaska LNG project is not confirmed. We will thoroughly review it in accordance with domestic legal procedures based on the principle of commercial viability."
Han emphasized, "President Trump’s announcement appears to reflect the U.S. side’s unilateral stance," adding that the government is examining U.S. investment projects with a focus on commercial rationality.
Kwon Chil-seung, the party's policy committee chair, also expressed during a policy coordination meeting at the National Assembly that they aim to achieve tangible results while maintaining the principle of commercial viability in this U.S. investment project.
Kwon noted, "This agreement is significant as it allows our companies to expand into the U.S. market and enhance industrial cooperation," and pledged to ensure that this investment becomes a new growth opportunity for South Korea.
Oh Gi-hyung, the ruling party's secretary for the National Assembly's Finance and Economy Planning Committee, explained that they are also prioritizing commercial viability. He stated, "The U.S. government should present a business structure that ensures commercial viability, after which the South Korean government must provide the basis for its assessment. The National Assembly will review and judge based on the criteria of commercial viability."
Park Ji-hye added, "President Trump’s announcement seems to imply that our country should take charge of the Alaska LNG project," expressing hope for an opportunity to review economic rationality. She cautioned that if natural gas demand declines rapidly, there is a risk that the investment costs may not be recovered, and the potential for stranded assets should also be considered.
* This article has been translated by AI.
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