Washington:U.S. President Donald Trump announced on Friday an $8.4 billion "enhanced oil recovery project" as part of a deal with South Korea that "keeps getting better." This announcement comes as Seoul and Washington work to implement South Korea's investment commitments under a trade deal signed last year.

According to Yonhap News Agency, Trump made the announcement via a social media post. The project is part of South Korea's first package of investment projects under the trade deal, which also includes the construction of a gas-fired power plant in Texas and eight large-scale nuclear power plants.

Trump expressed enthusiasm over the deal on Truth Social, stating, "I am thrilled to announce the Republic of Korea Deal keeps getting BETTER!" He emphasized the importance of this project for American energy dominance and global energy security, though he did not provide further details about the project itself.

The announcement comes as Trump highlights his economic achievements ahead of the November midterm elections amid concerns over high energy prices and economic uncertainties exacerbated by the ongoing conflict with Iran. Last year, South Korea agreed to invest $350 billion in the U.S. under the trade agreement, with $150 billion dedicated to the shipbuilding sector and the remainder for strategic investments, in exchange for reduced U.S. tariffs on Korean goods.