South Korea's Minister of Industry and Trade Kim Jong-gwan stressed on the 1st that investment projects in the US, including Alaskan liquefied natural gas development, should be based on “commercial rationality.” Kim Jong-kwan said that South Korea and the US have reached a consensus not to proceed if the Alaska project lacks commercial rationality. US President Trump announced South Korea's investment plans to the US on the same day, including elements where South Korea and the US have yet to reach agreement, such as “South Korea will participate in the Alaska Project.” Kim Jong-kwan said at the press conference that South Korea has expressed regret and strongly protested against this to US Secretary of Commerce Howard Lutnick. The US side expressed understanding of South Korea's concerns and stated that the US side will work to promote the effective implementation of related projects. Kim Jong-kwan pointed out that the agreement reached between South Korea and the US on the Alaska project was only three sentences written into the “Joint Information Statement,” and that the US side put forward specific values and assertions seriously exceeded the scope of the agreement between the two parties.

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