INTERVIEW falseAMCHAM optimistic over Korea's LNG investment in US
Lee Jae Myung, second from left, then the leader of the Democratic Party of Korea, speaks with Alaska Gov. Mike Dunleavy, second from right, and James Kim, right, chairman of the American Chamber of Commerce in Korea (AMCHAM), at a hotel in Seoul, to discuss both countries' energy cooperation and the Alaska liquefied natural gas project, March 26, 2025. Courtesy of AMCHAM
Seoul, Washington urged to address specific details for 'unsettled' announcement
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.”
AMCHAM Chairman James Kim speaks during a business seminar jointly hosted by the Korea Chamber of Commerce and Industry, at the chamber's headquarters in Seoul, Wednesday. Courtesy of AMCHAM
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.”