PM to sign energy deal with South Korea

The Phnom Penh Post
http://www.phnompenhpost.com/

Written by Nguon Sovan
Tuesday, 05 May 2009

SOUTH Korea is to assist Cambodia in identifying and exploring energy and minerals, Kim Junggwan, deputy minister for South Korea's Ministry of Knowledge, Economy Energy and Resources Police, told the Post on Monday after the Korea Cambodia Energy Forum.

Kim Junggwan said that the South Korean government will help Cambodia after Prime Minister Hun Sen signs a memorandum of understanding with the President Lee Myung-bak next month in Seoul.

"After Prime Minister Hun Sen signs the MOU on energy with our president in early June when he visits Soeul, we will send experts to do research on Cambodia's natural resources," he added.

"Cambodia is rich in natural resources ... under the sea there is oil and gas, but there is no specific data available ... resources have not been discovered and developed," he said.

He did not specify which minerals South Korea was interested in extracting.
"There are also few foreign investors in this field, so Korea is interested."

He said that Korea needs energy and minerals and has the expertise to assist Cambodia.

Ith Praing, secretary of state for the Ministry of Industry, Mines and Energy, welcomed the plan.

"It is very important to develop energy and explore undeveloped resources which are important for the future of the country," he said on Monday.