(Komir) sold off its shares in an Australian bituminous coal mine in 2018, as well as copper mines in the U.S., Chile, and Canada this year. Under the Moon Jae-in administration, the Korea Mine Rehabilitation & Mineral Resources Corp. But, not only have these public companies refrained from launching new projects, they are also disposing of existing ones, one after another. All seven projects it undertook have remained in the exploratory phase without reaching the production stage.Įnergy-related state enterprises' investments into overseas resource projects totaled $713 million last year ― one-tenth of the $7.03 billion invested under the Lee Myung-bak administration in 2011. However, its drilling success rate during this period was zero. (KNOC) poured about 162.7 billion won ($137 million) into overseas oil exploration projects from 2019 to this past June. However, the country has failed to do so because of a lack of preparation.Īccording to a report submitted to a related National Assembly committee, the Korea National Oil Corp. The global supply chain is faltering, as prices of major energy resources, including oil, coal and gas, are surging at the same time as the world faces its "great logistical turmoil." Resource-poor Korea should have already secured overseas resources to prepare for a crisis such as this. Korea should have farsighted policy to secure resources
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