On October 2, 2026, South Korean media SBS reported that questions are being raised about the profitability and commercial viability of the Alaska LNG project 'Project North' promoted by the US.

According to the article, this project is a large-scale undertaking that transports natural gas produced in gas fields in northern Alaska via an approximately 1300 km pipeline to the southern coast, liquefies it, and then exports it to countries like South Korea and Japan. The total project cost is estimated to be 60-74 trillion won (approximately 7-8.6 trillion yen), with an annual production target of 20 million tons.

Regarding this project, while the distance is shorter compared to transporting from LNG terminals in the Gulf of Mexico to East Asia, potentially reducing transportation time and costs, huge construction costs and Alaska's unique harsh climate conditions are issues.

In fact, in 2014, global oil companies such as ExxonMobil, ConocoPhillips, and BP participated in the project, but withdrew due to project costs and profitability.

After returning to power, President Trump again promoted this project. He strongly urged South Korea and Japan, who had expressed investment in the US, to participate. Japan considered an investment of 44 billion dollars (approximately 7 trillion yen) in the Alaska project last year, but reportedly did not include it in its actual investment plans for the US.

The article mentioned that "the South Korean government is currently only at the stage of 'beginning consideration'." It reported that "reasons include the possibility of project costs exceeding expectations and the need to secure further LNG sales destinations." Furthermore, regarding President Trump's statement as if South Korea's investment had already been confirmed, the South Korean government has drawn a line, stating, "Whether to invest or not has not been decided."

On the other hand, the article reported that "as the US government is showing strong enthusiasm, profitability and commercial viability could improve depending on conditions such as reduced tariffs and tax burdens, and government support." Experts also reportedly hold the view that "while it is not profitable at present, profitability could be secured through negotiations with the US."

The South Korean government, stating that there are uncertain elements such as a change in the US administration in addition to the huge project costs, has indicated its stance that it will "proceed with the project only if commercial rationality is confirmed."

Regarding this, South Korean netizens voiced opinions such as: "It would be foolish to invest in something like this," "Japan managed to pull out properly," "Why do we have to do such a thing using Korean taxpayer money?", "This is happening because the current government's policy is bad," and "I doubt whether President Lee Jae-myung is handling this properly."

Additionally, opinions such as: "How are we supposed to deal well with someone like President Trump who unilaterally declares 'the investment has been decided'?", "President Trump knows that the profits are uncertain, which is precisely why he's trying to get other countries to put up the money," "If it's such a good business, the US should do it alone," "They must be intending to threaten South Korea with tariffs and other conditions to make it invest," and "From the current US, the pressure exerted because we are an ally is almost greater than the benefits of the alliance," were also observed.