South Korea Says $8.4 Billion Oil Project Mentioned by Trump Not Part of Deal With US, Yonhap Reports

(Reuters) – A $8.4 billion oil recovery project mentioned by US President Donald Trump is not part of a strategic investment agreement between the US and South Korea, Yonhap reported on Friday, citing an industry ministry official.

The official said an inquiry has been sent to the US side through communication channels, according to the report.

Trump said on Truth Social on Friday that a US trade deal with South Korea includes $8.4 billion for a project to pump gases into an aging oilfield to push out remaining crude.

Reporting by Hyunsu Yim in Barcelona; Editing by Aidan Lewis

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