S. Korea to intensify energy cooperation with ASEAN: minister

JEJU ISLAND, South Korea, May 31 (Yonhap) -- South Korea will step up cooperation
with Southeast Asian countries in developing energy and mineral resources as part
of efforts to secure sufficient supply, a top policymaker said Sunday.
"We will continue to sign memorandums of understanding with ASEAN countries in
relation to development of energy and mineral resources," Knowledge Economy
Minister Lee Youn-ho told a press conference. "If possible, we will expand our
direct investment (on such cooperation)."
"There will be a meeting between CEOs of state-run oil firms from South Korea and
ASEAN countries on Monday??? The meeting will provide a chance for our state-run
oil companies to build a network with its Asian counterparts to jointly develop
(energy) and make inroads into a third country together."
He added that South Korea is the world's second-largest LNG importer and ASEAN
countries are "one of the most important suppliers. ASEAN comprises Brunei,
Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the
Philippines and Vietnam.
The CEO meeting is under way on the sidelines of a two-day summit between heads
of state from South Korea and the ASEAN members here on the southern resort
island of Jeju. The two-day summit will kick off on Monday.
kokobj@yna.co.kr
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