South Korea Rejects Donald Trump's Claim of $8.4 Billion Oil Deal

President Donald Trump announced an $8.4 billion investment deal with South Korea involving enhanced oil recovery (EOR) projects, a claim the South Korean government has officially disputed. The statement, posted to Truth Social, suggests an expansion in energy cooperation, but Seoul maintains that no such agreement was included in recent strategic investment negotiations.

"The Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in the World for the Future!" said Donald Trump in a post on Truth Social.

Official Response from Seoul

Contrary to the claims made by the former president, South Korea's industry ministry reported that the EOR investment was not part of the strategic investment framework reached between the two nations. The ministry has formally requested clarification from Washington regarding the nature and origin of the $8.4 billion figure.

Understanding Enhanced Oil Recovery

Enhanced oil recovery (EOR) is a set of techniques used to boost production from aging or depleted oil fields. Unlike primary or secondary recovery methods, which rely on natural pressure or water flooding, EOR involves injecting materials into the reservoir to alter the oil's properties and improve flow.

Common methods include:

• Thermal recovery: Injecting steam to lower the oil's viscosity.
• Gas injection: Using carbon dioxide, natural gas, or nitrogen to push oil toward production wells.
• Chemical injection: Utilizing polymers or surfactants to improve the sweep efficiency of the reservoir.

These projects are capital-intensive and require long-term infrastructure investment to be commercially viable. The discrepancy between the announcement and the position of the South Korean government remains a point of contention as both sides seek to reconcile the details of their energy cooperation agreements.

Market Context

During discussions regarding the deal, Trump Media & Technology Group Corp (DJT) saw its share price move. As of October 8, 2026, the stock was trading at $8.13, marking a decline of 1.09% for the session.