In recent years, keen attention has been drawn to the issue of energy security includ-ing food security. The overseas resource development program enhances Korea’s energy security by providing the stable and secure access to resources such as oil, minerals, natural gases, food grains and etc. The present report is written with the aim of analyzing the overseas resources development program as a whole and sug-gesting various recommendations to maximize this program’s effects.
In big picture view, the overseas resources development program is divided into energy-related investment and agriculture-related (fishery and afforestation was included) investment; the former is mainly carried out by the Ministry of Knowl-edge Economy and the latter is by the Ministry of Agriculture and the Forest Ser-vice. Since 2008, the policy on the overseas resources development has been estab-lished as crucial national agenda, so that the government has allocated a large amount of budget into this programs. In 2010 these three ministries are implement-ing 12 programs, which consist of loans, grants, subsidies. The total amount of the budget is estimated as 1,748 billion won, almost doubled from 892 billion won in 2007.
Policy recommendations was made in this report as follows: First, it is essential to build a partnership between related actors including private sector to beef up ex-change of information and knowhow sharing. Second, it is highly recommended that the package-deal strategies should be established in order to satisfy the re-source-own countries. Last, with regard to the overseas agriculture-development, it is a prerequisite to establish success models and to benchmark the best practices before investing abroad.
In big picture view, the overseas resources development program is divided into energy-related investment and agriculture-related (fishery and afforestation was included) investment; the former is mainly carried out by the Ministry of Knowl-edge Economy and the latter is by the Ministry of Agriculture and the Forest Ser-vice. Since 2008, the policy on the overseas resources development has been estab-lished as crucial national agenda, so that the government has allocated a large amount of budget into this programs. In 2010 these three ministries are implement-ing 12 programs, which consist of loans, grants, subsidies. The total amount of the budget is estimated as 1,748 billion won, almost doubled from 892 billion won in 2007.
Policy recommendations was made in this report as follows: First, it is essential to build a partnership between related actors including private sector to beef up ex-change of information and knowhow sharing. Second, it is highly recommended that the package-deal strategies should be established in order to satisfy the re-source-own countries. Last, with regard to the overseas agriculture-development, it is a prerequisite to establish success models and to benchmark the best practices before investing abroad.