Korea to purchase American weapon along with Shale gas…Even trade negotiation to be used by USA
Park Byung Rib | riby@ | 2017-11-22 10:55:06
The US government has promised to purchase shale gas in addition to promises to buy US weapons. There is a growing concern that the US is likely to launch a trade strategy that is overly pervasive before it begins negotiations on a free trade agreement (FTA).
At the meeting held at the Sejong government headquarters on September 20, Baek Woon-kyu, the Minister of Commerce, Industry and Commerce, said, "I will approach the US with buying more shale gas."
The Korean government is introducing shale gas from the US this year, and it is suggested that it will purchase additional shale gas.
KOGAS, in 2012, signed an agreement with US-based CNBC to purchase 2.8 million tons of shale gas per year for 20 years. Since last July, KOGAS has been importing shale gas from the US. In the private sector, SK E & S has decided to import 2.2 million tons in 20 years from 2019, and GS will import 600,000 tons a year, and all of the shale gas imported from the public and private sectors in the United States will be 5.60 million tons in 2019.
Meanwhile, the government seems to plan to increase the purchase of shale gas in accordance with the energy conversion plan, such as the increase of LNG power plants according to the `nuclear power plant` in the future. In 2019, public and private shale gas imports are estimated at about USD 3.45 billion.
Last year, Korea exported USD 66.462 billion and imported USD 43.216 billion. The US demanded renegotiation of the Korea - US FTA, saying it saw a trade deficit of about USD 23.2 billion.
Especially, President Donald Trump, who visited Korea on November 7, stressed that "Korea should reduce US trade deficit by purchasing US weapons in connection with the North Korean nuclear program. The government pledged to buy US arms in large quantities.”
However, Korea`s trade surplus in the US from January to October this year was only USD 14.83 billion, a 25% decrease from the same period last year. It is pointed out that it is not advantageous for trade negotiations in the future to let the authorities precede negotiations with the US to unilaterally trade cards that buy excessively weapons and shale gas purchases.
Professor Huh Yoon Sogang graduated from the Graduate School of International Graduate School of International Studies and said, "The problem is that the Korean government has put out a card that can be used on its own," he said. "The United States has to link security issues and we are sticking with the government`s three-trillion-dollar policy." "We have decided to read the number of agriculture and livestock products in the red line," he said. "We have to prepare our strategy properly and respond to US trade."
Minister Baek, on the other hand, stated, "I will actively pursue nuclear power sales," and said, "We will visit potential purchasing countries such as Britain and Czech Republic to order nuclear power plants." He will visit Britain from November 26-27, France on November 28-29, and the Czech Republic from November 30 to December 1.
By Park Byung Rib riby@
[ copyright ⓒ The Digitaltimes ]
At the meeting held at the Sejong government headquarters on September 20, Baek Woon-kyu, the Minister of Commerce, Industry and Commerce, said, "I will approach the US with buying more shale gas."
The Korean government is introducing shale gas from the US this year, and it is suggested that it will purchase additional shale gas.
KOGAS, in 2012, signed an agreement with US-based CNBC to purchase 2.8 million tons of shale gas per year for 20 years. Since last July, KOGAS has been importing shale gas from the US. In the private sector, SK E & S has decided to import 2.2 million tons in 20 years from 2019, and GS will import 600,000 tons a year, and all of the shale gas imported from the public and private sectors in the United States will be 5.60 million tons in 2019.
Meanwhile, the government seems to plan to increase the purchase of shale gas in accordance with the energy conversion plan, such as the increase of LNG power plants according to the `nuclear power plant` in the future. In 2019, public and private shale gas imports are estimated at about USD 3.45 billion.
Last year, Korea exported USD 66.462 billion and imported USD 43.216 billion. The US demanded renegotiation of the Korea - US FTA, saying it saw a trade deficit of about USD 23.2 billion.
Especially, President Donald Trump, who visited Korea on November 7, stressed that "Korea should reduce US trade deficit by purchasing US weapons in connection with the North Korean nuclear program. The government pledged to buy US arms in large quantities.”
However, Korea`s trade surplus in the US from January to October this year was only USD 14.83 billion, a 25% decrease from the same period last year. It is pointed out that it is not advantageous for trade negotiations in the future to let the authorities precede negotiations with the US to unilaterally trade cards that buy excessively weapons and shale gas purchases.
Professor Huh Yoon Sogang graduated from the Graduate School of International Graduate School of International Studies and said, "The problem is that the Korean government has put out a card that can be used on its own," he said. "The United States has to link security issues and we are sticking with the government`s three-trillion-dollar policy." "We have decided to read the number of agriculture and livestock products in the red line," he said. "We have to prepare our strategy properly and respond to US trade."
Minister Baek, on the other hand, stated, "I will actively pursue nuclear power sales," and said, "We will visit potential purchasing countries such as Britain and Czech Republic to order nuclear power plants." He will visit Britain from November 26-27, France on November 28-29, and the Czech Republic from November 30 to December 1.
By Park Byung Rib riby@