Roh’s Overseas Trips Not So Productive After All

President Roh’s overseas trips have not been productive as expected.

During his visits to other countries, Korean companies or government agencies have signed eight MOUs concerning metal and mineral resource development since his inauguration, but none of them have actually been implemented.

14 MOUs for oil development were also signed during his overseas visits, but most of them remain on paper, with only three exceptions.

The Korean public and private sectors have been involved in 50 metal or mineral resource development projects since 2003, but none of them was initiated by MOUs signed during Roh’s overseas trips.

Likewise, the Korean public and private sectors have been part of 49 oil field development operations since 2003, but Roh’s overseas trips contributed to only three of them: the West Kamchatka project in Russia, Zhambyl project in Kazakhstan, and Aral Sea project in Uzbekistan.

These facts were revealed when a comparison was made between a list of Roh’s MOUs and a list of Korea’s overseas resource development operations. Representative Kim Hyeong-oh of the Grand National Party acquired a list of MOUs signed during Roh’s overseas travels from the presidential office. Representative Lee Myeong-gyu of the Commerce, Industry and Energy Committee of the National Assembly obtained a list of overseas oil and gas field exploration projects, and metal and mineral resource development projects that involve Korea, from the Ministry of Commerce, Industry and Energy.

When Roh visited Kazakhstan in September 2004, the Ministry of Commerce, Industry and Energy signed four MOUs on oil and mineral development. None of them showed any progress afterwards except for the Caspian Sea Exploration MOU that was concluded with Kazakhstan’s state-owned oil company.

The ministry also signed four MOUs during Roh’s visit to Nigeria in March last year, but none of them are reaping substantial results. The Korea Gas Corporation signed an MOU with NNPC, a state-owned oil company of Nigeria, but little has been done since then.

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