Category: Korean Natural Resources

The Korean government has aggressively attempted to secure oil, coal and other energy resources through aggressive acquisitions and explorations. However, in large part, the major ventures have failed because of a lack of foresight, inexperience and, most critically, the active use of inexperienced Korean advisors (Korean lawyers and consultants). Some of the projects sold to the Korean government were nothing more than scams. The Korean government is still hell-bent on not having the active involvement of experienced non-Korean advisors. The government is also not willing to spend

The United Nations has chosen Korea as the host nation of the Green Climate Fund.  Korea beat out Germany, Mexico, Nambia, Poland and Switzerland.  The U.N. Green Climate Fund was first initialized through the 15th Conference of Parties’ Copenhagen Accord.  The Copenhagen Accord led the way to the Cancun Agreement that created the fund and the 2011 UN Climate Change Conference that set the fund in motion. The official purpose of the fund is to: “support projects, programs, policies and other activities in developing country Parties using

Arafura, an Australian resources company, has reported that it has executed a non-binding agreement with a major Korean construction company to supply to the company rare earth minerals.   The company will provide, according to the company, a viable option to the Chinese rare earth minerals and the Chinese governments increasing grip over these resources.  Most involved in the energy and natural resources industry know who the Korean conglomerate is, but I will refrain from mentioning the name until it is officially reported. The company and other Korean

Bloomberg posted an article today on the possibility of Korea passing a carbon trading bill.The Bloomberg articles notes that: We believe the bill will be passed” as long as lawmakers schedule a vote after the elections, Young Soo Gil, chairman of the Presidential Committee on Green Growth, told reporters today in Seoul. Lawmakers unexpectedly delayed voting on the bill on Feb. 27, even after Asia’s fourth-largest economy agreed to push back the program’s start by two years to 2015 as the largest companies said it will hurt

The Korean Administration has taken a great deal of flack from politicians, the media and the population because of many failed overseas energy and natural resources projects. The criticism is justified, but the bold efforts should be welcomed and fostered.   I wish the U.S. government would take a much more proactive stance as is being taken by China, Korea and India. The most recent efforts on the part of the Korean government is to secure a consistent and predictable supply of rare earth minerals.  97% of