# South Korea Requests ₩1 Trillion Tax Break for Alaska LNG

> South Korea seeks annual property tax exemption of ₩1 trillion for Alaska LNG project to boost viability.
- Title: South Korea Requests ₩1 Trillion Tax Break for Alaska LNG
- Summary: South Korea seeks annual property tax exemption of ₩1 trillion for Alaska LNG project to boost viability. South Korea formally requested U.S. property tax…
- Keywords: south korea, alaska lpg, property tax, us federal government, alaska state law, alaska lpg project, ministry of trade industry and energy, finance, markets, South, Korea, Requests
- Source: BigGo Finance — https://finance.biggo.com/news/572a9ac6-2328-49b9-9483-c5f268bb839b
- Author: BigGo Finance
- Published: 2026-10-16T03:36:10+00:00
- Read time: 1 min
- Topics: south korea, alaska lpg, property tax, us federal government, alaska state law, alaska lpg project, ministry of trade industry and energy, finance, markets
## South Korean government requests tax exemption
South Korean government formally requested U.S. waiver of up to ₩1 trillion annual property taxes for Alaska LNG project participation.
## Current Alaska property tax burden
Alaska state law imposes 2% annual property tax on gas pipelines and processing facilities, projected at $740 million per year by 2033.
## Tax exemption rationale
South Korea believes easing property tax burden would improve project profitability by $700 million annually.
## Project financials
Alaska LNG project costs $50 billion with annual returns needed at 6% for $3 billion profit.
## U.S. political pressure
President Trump pressured South Korea to join Alaska LNG project ahead of midterm elections.
## U.S. response to request
U.S. side reportedly responding positively to South Korea's tax exemption request.
## Project details
Alaska LNG project involves 1,300 km pipeline to transport natural gas to Asian markets.
## Key takeaway

South Korea formally requested U.S. property tax exemption of up to ₩1 trillion annually for Alaska LNG project participation.