President Donald Trump’s mention of the Alaska liquefied natural gas (LNG) project has led to a significant rise in shares of Dongil Steel Lux.
As of 10:17 a.m. on September 3, Dongil Steel Lux shares were trading at 1,559 won, up 279 won (21.8%) from the previous day.
Dongil Steel Lux is a steel manufacturer. Following Trump’s comments, shares of steel companies have surged, with other firms like Geumgang Steel rising by 17.9% and TCC Steel by 10.2%.
On September 2, Trump stated to reporters at the White House, "Japan and South Korea are going to Alaska to load fuel and oil and build a pipeline." The surge in steel stocks reflects expectations that domestic steel companies will benefit from the pipeline construction.
The Alaska LNG project is one of Trump’s key policy initiatives, with the Trump administration mentioning the potential for investments from Japan and South Korea.
The project involves extracting natural gas from the North Slope of Alaska and transporting it approximately 1,300 kilometers through a new pipeline to Nikiski, a deep-water port near Anchorage, where it will be liquefied and supplied to demand centers.
* This article has been translated by AI.
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