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SKD WIRETrue
U.S. President Donald Trump has raised the possibility of announcing South Korean investment in the Alaska LNG project, and shares of Korean steel and pipe manufacturers moved higher on the prospect, according to a Bloomberg report.
Investors responded to the news by buying up shares of companies seen as potential beneficiaries of the project, with steel and steel pipe stocks posting gains. The Alaska LNG initiative has been presented by the Trump administration as a major energy infrastructure project that could involve international partners.
According to the Bloomberg report, obtained through paid access, Trump suggested that an announcement of Korean investment in the Alaska LNG project could be forthcoming. The report did not specify the size or timing of any potential Korean commitment, and details of the talks remain unconfirmed.
While the prospect of Korean participation has lifted related equities, no formal investment agreement has been announced. Any Korean involvement in the project would depend on further negotiations between Washington and Seoul.
The claim that Trump raised the possibility of a Korean investment announcement in the Alaska LNG project, prompting a rally in steel and pipe stocks, is True.