Trump says Korea deal includes $8.4 billion US oil project; Seoul denies

· Oil & Gas · United States · South Korea

President Donald Trump said Friday that South Korea's investment agreement with the United States now includes $8.4 billion for an enhanced oil recovery project. Seoul says it agreed to no such thing.

Why it matters：The open contradiction over a flagship energy investment shows how unsettled US-Korea deal terms remain, which matters for cross-border oil and gas investment.

Key points

  • Trump said the "Republic of Korea Deal keeps getting BETTER" with the $8.4 billion oil recovery project.
  • Seoul denied that it had agreed to any such provision.
  • The project is described as an enhanced oil recovery project.

Sources (original reporting)

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