President Donald Trump is set to unveil South Korea's plan to invest about $200 billion in the United States on Wednesday, including $54 billion for the long-delayed Alaska LNG project, according to Bloomberg, citing people familiar with the matter. The announcement is expected in the Oval Office.

The package represents the first tranche of projects under last year's US-South Korea trade deal, which included a $350 billion US investment pledge in exchange for lower American tariffs on South Korean goods. Privately-held Glenfarne Group is developing the Alaska LNG venture, which has signed preliminary agreements with importers but has yet to take a final investment decision.

Other projects in the pipeline include a $22.3 billion gas-fired power complex in Encinal, Texas, aimed at meeting electricity demand from data centres, and proposals for eight nuclear reactors in the US. The deal, championed by a Republican senator in a tight re-election race in Alaska, is also being framed in Seoul as a step towards restoring strained alliance trust.