(Bloomberg) -- South Korea, which imports almost all
its energy and mineral needs, plans to invest 5.2 trillion won
($5.6 billion) to develop resources overseas to secure supplies
amid rising competition and prices.
Asia's third-largest economy will make the investment by
2011, the Ministry of Commerce, Industry and Energy said in an
e-mailed statement today. Korea Resources Corp., the nation's
state-run resource explorer, also wants to own stakes in
overseas mineral projects equivalent to 40 percent of local
demand by 2020 and will spend 1.6 trillion won to achieve this.
Read more at Bloomberg Energy News
its energy and mineral needs, plans to invest 5.2 trillion won
($5.6 billion) to develop resources overseas to secure supplies
amid rising competition and prices.
Asia's third-largest economy will make the investment by
2011, the Ministry of Commerce, Industry and Energy said in an
e-mailed statement today. Korea Resources Corp., the nation's
state-run resource explorer, also wants to own stakes in
overseas mineral projects equivalent to 40 percent of local
demand by 2020 and will spend 1.6 trillion won to achieve this.
Read more at Bloomberg Energy News
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