South Korea says $8.4 billion oil project Trump mentioned is not part of US deal
USO•South Korea said an $8.4 billion oil recovery project mentioned by U.S. President Donald Trump is not part of its strategic investment agreement with the United States, Yonhap reportedly said, citing an industry ministry official.
1. Project not in agreement
An industry ministry official said the $8.4 billion oil recovery project is not part of the strategic investment agreement between the United States and South Korea, Yonhap reportedly said. The official said an inquiry had been sent to the U.S. side through communication channels.
2. Trump’s statement
Trump said on Truth Social that a U.S. trade deal with South Korea includes $8.4 billion for a project to pump gases into an aging oilfield to push out remaining crude.
