South Korea Explores Vast Oil and Gas Reserves Off East Coast

South Korean President Yoon Suk Yeol announced the commencement of exploration for a potentially vast quantity of oil and gas reserves in the sea off the country's east coast. Highlighting studies reviewed by experts, Yoon emphasized the high possibility of discovering up to 14 billion barrels of these resources.

South Korean President Yoon Suk Yeol said on Monday the possibility of a vast amount of oil and gas reserve in the sea off the country's east coast has been reported and it will launch an exploration to determine the potential.

The possibility of the reserves containing as much as 14 billion barrels of oil and gas are "very high," Yoon told a news conference citing a study that he said has been reviewed by experts and industry groups. "Today, I approved the Ministry of Trade, Industry and Energy to go ahead with the drilling for exploration in the deep sea in the east sea," Yoon said.

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