South Korea Hungry for Energy

The Financial Times May Be the World’s Best Newspaper
The UK’s Financial Times may be the world’s best newspaper due to its coverage of every region in the world. One blog that addresses Korea is called Beyond Brics (there is a link on the left side of the screen).
Recently, this short article about Korea, and its pursuit of securing energy. The article doesn’t address one critical issue: the need for a national energy policy. China, with its centralized economy, clearly has an energy policy due to its large population. While much smaller, the need for Korea to secure energy resources from outside its borders will not go away anytime soon, if ever.

The Seoul Gyopo Guide has made this point frequently; the Korean economy is, unfortunately, exposed to its natural shortcomings, such as lack of energy resources, small geographical size, and relatively small population. The need for continuous development of its social and legal structure is necessary in order to address these shortcomings. Why? Securing agreements with foreign countries and foreign companies will require Korea to adhere to internationally accepted standards. There are many, many alternate buyers of these resources. So, while the FT article points out that Korea is trying address its energy needs, how Korea conducts itself, both domestically, and when dealing with foreign countries and companies, will be critical. This is not a matter of “foreigners invading,” or “Korea losing its identity.” It is a matter of addressing the economic limitations of Korea for the benefit of its citizens.