Arab Today, arab today seoul to inject us11 bln into energy resources development
Last Updated : GMT 14:35:50
Arab Today, arab today
Arab Today, arab today

Seoul to inject US$1.1 bln into energy, resources development

Arab Today, arab today

Arab Today, arab today Seoul to inject US$1.1 bln into energy, resources development

Seoul - Yonhap

South Korea plans to increase its spending on the development and purchase of overseas mines by nearly 10 percent next year to significantly boost its energy self sufficiency, the government said Friday. According to the Ministry of Knowledge Economy, the government is requesting 1.31 trillion won (US$1.1 billion) in its budget plan for next year to be earmarked for the development of overseas energy and resources. The amount represents a 9.8 percent increase from this year\'s budget. \"Increased cooperation with newly emerging economies and resource-rich countries is a must as the global competition to secure energy and resources is intensifying,\" the ministry said in a press release. The proposed increase surpasses the 5.5 percent gain in the government\'s overall budget request for 2012. The government budget bill was to be submitted to parliament later Friday. Under the ministry\'s proposal, the government will invest 760 billion won, up 50 billion won from this year, in the state-run Korea National Oil Corp. specifically to purchase or develop overseas mines. The Korea Resources Corp. will also receive 220 billion won, up from 180 billion won this year, for the same purpose while an additional 300 billion won will be invested in private companies engaged in the development of foreign mines, the ministry said. This, it said, will increase the country\'s oil and natural self-sufficiency rate, or the rate of oil and natural gas developed and mined by South Korea to the country\'s total consumption, from the current 14 percent to 20 percent. Six major natural resources, including uranium, will also have their rate raised from the current 29 percent to 32 percent. Meanwhile, the ministry said its total spending next year will increase 2.1 percent from this year to a little over 16.1 trillion won. The increase partly comes from a 3.5 percent increase in its spending on research and development to 4.68 trillion won, which will help create 30,000 new jobs, it added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today seoul to inject us11 bln into energy resources development Arab Today, arab today seoul to inject us11 bln into energy resources development

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 14:44 2017 Saturday ,25 February

China overtakes US as Germany’s top trade partner

GMT 05:53 2017 Saturday ,25 February

Global sovereign debt to hit new all-time high

GMT 05:17 2017 Saturday ,25 February

Oil world cautious on Trump’s next move

GMT 09:59 2017 Friday ,24 February

Baidu revenue slips anew amid ad clampdown

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday