Trump has threatened to charge South Korea higher rates on unspecified terms if Seoul does not quickly sign on to a $50 billion Alaska LNG project, creating tension over energy investment announcements that the two governments have not jointly confirmed.
"If they don't want to do it, that's OK with me. I'll just charge them more," Trump told reporters Friday, according to the White House. "Tell them if they don't sign shortly, I'm going to double it up." Trump did not clarify what would be doubled. South Korean local media reported the remarks could signal higher tariffs on the country.
Trump announced Friday that South Korea would participate in the Alaska LNG venture, then said separately on Truth Social that Seoul's broader investment package "keeps getting BETTER," citing an additional $8.4 billion enhanced oil recovery project using carbon dioxide injection to boost crude oil output.
South Korea has not confirmed either project as finalized. Seoul said it is still assessing the Alaska LNG deal, contingent on commercial viability and compliance with domestic legal procedures. South Korean local media reported that the oil recovery project was not included in agreements reached between the two governments. South Korea's industry ministry sought to verify Trump's announcement and contacted the U.S. through trade channels for clarification, according to the reports.
The dispute reflects a wider gap between Washington and Seoul over the scope and timing of South Korea's planned energy and infrastructure investments in the U.S. When asked whether he had announced South Korea's Alaska LNG involvement prematurely, Trump said he "didn't jump the gun."
No investment agreement has been publicly released by either government confirming the terms, timing or South Korea's binding commitment to either project.