South Korean Industry Minister Ahn Duk-geun (L) shakes hands with U.S. Secretary of Commerce Howard Lutnick during their meeting in Washington on Feb. 27, 2025, in this photo provided by Ahn’s office. (Image courtesy of Yonhap)
SEJONG, March 4 (Korea Bizwire) — South Korea has expressed interest in joining hands with the United States and Japan for the gas pipeline development project in Alaska as part of efforts to improve its trade relations with U.S. President Donald Trump’s administration, sources said Tuesday.
Seoul’s Industry Minister Ahn Duk-geun delivered such an intention in meetings with U.S. Secretary of Commerce Howard Lutnick, U.S. Secretary of Interior and National Energy Dominance Council Chairman Doug Burgum, as well as other officials, during his recent trip to Washington, according to the sources familiar with the matter.
Last week, Ahn visited Washington for negotiations on the Trump administration’s plan to impose 25 percent tariffs on all steel and aluminum imports and introduce reciprocal tariffs, as well as the U.S.’ ongoing consideration of new duties on cars, chips and pharmaceuticals.
Participation in the Alaska liquefied natural gas (LNG) project is considered one of the bargaining chips for South Korea in its tariff negotiations with the U.S. as Trump has vowed to boost oil and gas production.
Japan and the U.S. have reportedly been discussing forming a joint venture for the Alaska LNG project, with the topic being discussed during a summit between Japanese Prime Minister Ishiba Shigeru and Trump last month.
“The U.S. will want South Korea’s participation in the project as there needs to be solid demand to develop gas reserves in Alaska, but demand from Japan alone is insufficient,” a senior government official said on the condition of anonymity.
Japan and South Korea are the second- and third-largest LNG importers in the world, respectively.
“South Korea also has more technologies directly needed for building icebreakers and pipelines essential for the Alaska LNG project,” the official added.
South Korea can also reduce its trade surplus with the U.S., a key factor the Trump administration will look into for imposing reciprocal tariffs, by expanding its purchase of American gas products in the form of investment in the Alaska project.
But since the project could be a burden on Korean companies, the government plans to closely communicate with local companies and negotiate with the U.S. with caution, the sources said.
Meanwhile, Ahn is also said to have proposed that Korean shipbuilders can manufacture warships, tankers and icebreakers for the U.S. on a preferential basis as part of measures to strengthen bilateral cooperation in the shipbuilding industry and that Washington has welcomed the proposal.
“U.S. had this fundamental view that South Korea is an important partner for industrial cooperation,” an official at the Ministry of Trade, Industry and Energy said.
(Yonhap)
