[Edaily Reporter Kim Kyung-eun ] South Korean steel stocks are rising in unison in early trading after U.S. President Donald Trump once again mentioned South Korea and Japan in connection with the Alaska liquefied natural gas (LNG) project.

According to MP Doctor on the 3rd, as of 9:15 a.m., SHIN STEEL CO.,LTD.(162300)was trading at 2,105 won—up 484 won (29.86%) from the previous trading day—and hit the daily price limit. At the same time, KEUM KANG STEEL CO., LTD(053260)was also trading at 7,050 won—up 1,620 won (29.83%)—and reached the daily price limit.

In addition, DongilSteel(023790)(27.89%), TCC STEEL(002710)(24.52%), Bookook Steel(026940)(22.15%), DongyangSteelPipe(008970)(14.81%), HISTEEL CO., LTD.(071090)(11.93%), and MoonbaeSteel(008420)(9.05%) all surged sharply.

This is believed to be due to President Trump’s renewed mention of South Korea and Japan’s participation in the Alaska LNG project. Expectations that domestic steel and steel pipe companies could participate in the construction of a large-scale gas pipeline are driving up stock prices.

On the 2nd (local time), President Trump met with reporters at the White House to announce his plans to visit Alaska. During the briefing, he said, “There’s Japan and South Korea,” adding, “All these people are heading to Alaska to transport fuel and oil, build pipelines, and do everything else.”

These remarks came as he announced he would “go to Alaska” to support Republican candidate Dan Sullivan, who is seeking a third term in the U.S. Senate election.

President Trump had previously mentioned the Alaska LNG project in January, claiming, “We have secured an unprecedented level of funding through trade agreements with South Korea and Japan.” His remarks that day also appear to have raised expectations that investment from South Korea and Japan could be channeled into the Alaska LNG project.

The Alaska LNG project involves transporting natural gas produced in the North Slope region of northern Alaska to Nikiski in the south, where it will be liquefied and exported to Asia and other markets. This requires the construction of a gas pipeline approximately 1,300 km long, stretching from north to south across Alaska. Given that the construction of such a large-scale pipeline will require a significant amount of steel pipe, expectations are growing that domestic companies will be selected as key suppliers of these steel pipes.