A view of Alaska (Image courtesy of Pixabay/CCL)
SEOUL, April 25 (Korea Bizwire) — South Korea will “prudently” decide whether to join the Alaska liquefied natural gas (LNG) project after conducting an on-site field inspection of the project, Seoul’s industry minister said Friday.
Industry Minister Ahn Duk-geun said the government will approach the matter “prudently” as it is tied to the country’s energy security.
He made the remark in a press briefing held after “2+2″ trade consultations between South Korea and the United States in Washington on Thursday (U.S. time) on tariff and other economic issues, including industrial cooperation.
“We first have to conduct an on-site inspection and make detailed assessment of the plan regarding the Alaska issue,” he told reporters, referring to the project aimed at building a 1,287-kilometer pipeline in Alaska and producing 20 million tons of natural gas annually, exporting them primarily to Asia.
The Alaska LNG project was considered one of prominent ways for South Korea to reduce its trade surplus with the U.S.
An official from Seoul’s Ministry of Trade, Industry and Energy said the country plans to soon dispatch a field inspection team to Alaska to assess the economic feasibility of the project.
South Korea and the U.S. also discussed the possible creation of a consultative body for the project, comprising major gas purchasers in Asia, including Japan, Taiwan and Vietnam, according to Ahn.
The “2+2 trade consultations” brought together Ahn and Finance Minister Choi Sang-mok, along with their U.S. counterparts — U.S. Trade Representative Jamieson Greer and U.S. Treasury Secretary Scott Bessent.
Seoul said it has proposed to enhance bilateral cooperation in energy as part of efforts to address the U.S.’ concerns over its trade deficit with South Korea, while also offering to help rebuild the U.S.’ shipbuilding industry in their first high-level trade consultations aimed at reducing, if not removing, U.S. tariffs on South Korean products.
South Korean Industry Minister Ahn Duk-geun (R) shakes hands with U.S. Trade Representative (USTR) Jamieson Greer at the USTR office in Washington on April 24, 2025 (U.S. time), in this photo provided by Ahn’s office. (Yonhap)
“I think we made a very good start,” Ahn said, highlighting Bessent’s earlier comments that the Washington meeting was “very successful.”
Bessent earlier said South Korea brought its “A game” to the trade talks, noting the two sides may move faster than expected in their trade negotiations.
In the “2+2″ meeting, the two countries agreed to work to craft a “package” deal by July 8, when U.S. President Donald Trump’s 90-day pause on “reciprocal” tariffs will end, through talks that will focus on four categories — tariff- and non-tariff measures, economic security, investment cooperation and currency policies, according to the Seoul government. South Korea was slapped with 25 percent reciprocal duties.
Toward that end, Seoul’s industry ministry and the office of USTR plan to start working-level talks next week.
(Yonhap)
