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AMCHAM
optimistic over Korea's LNG investment in U.S.
Seoul, Washington urged to
address specific details for 'unsettled' announcement
By Lee Min-hyung, The Korea Times - James
Kim, chairman of the American Chamber of Commerce in Korea (AMCHAM), is
welcoming U.S. President Donald Trump’s announcement on Korea’s $54 billion
(73.3 trillion won) investment in the Alaska liquefied natural gas (LNG)
project, describing it a sign of progress in bilateral economic ties, but
called for the two governments to resolve key commercial and legal details.
“I see a shared interest in expanding
energy cooperation, even if the two governments are emphasizing different
aspects of the project,” Kim said in an interview with The Korea Times on
Thursday.
“A project of this scale requires
careful consideration of investment costs, energy prices, commercial viability
and participation terms,” he said, adding that questions surrounding the timing
and coordination of the announcement are matters for the two governments to
address.
The contrasting positions have drawn
attention because Washington presented the $54 billion figure as a Korean
investment commitment, while Seoul has yet to determine details on the scale,
structure or timing of any investment.
From a business perspective, Kim said
the priority is to assess the project’s fundamentals and “identify an approach
that makes commercial sense for both sides.”
He nevertheless described Trump’s
announcement as “a positive sign of progress” in the broader U.S.-Korea
investment partnership.
“AMCHAM has consistently emphasized the
importance of translating investment commitments into tangible outcomes,” Kim
said. “It is encouraging to see specific projects and areas of cooperation
taking shape.”
The Alaska LNG project is part of a push
by Seoul and Washington to turn the countries’ investment commitments into
concrete projects. Kim noted, however, that individual initiatives remain at
different stages of development and should be evaluated separately.
“Korean government investment in Alaska
LNG remains subject to commercial and legal review, while the nuclear framework
provides a basis for developing individual projects,” he said.
He also remained optimistic about the
overall direction of bilateral economic ties, saying AMCHAM will continue
working with government and business leaders to turn the commitments into
“practical opportunities and lasting benefits for both economies.”
His comments come amid lingering
friction over U.S. concerns about Korea’s digital regulations and the dispute
surrounding Coupang, the U.S.-listed Korean e-commerce company that has been
locking horns with Korean authorities over a massive customer data leak last
year.
Kim said such issues would not undermine
the foundation of bilateral trade ties.
“I do not believe these points of
friction will undermine the broader U.S.-Korea economic partnership,” he said.
“Our relationship is built on decades of investment, trade and close business
ties.”
“Both countries have substantial shared
interests, and I remain confident in the strength and resilience of that
relationship.”
