<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published May 11, 2009
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S Korea to start 1t won natural resources fund
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</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SEOUL) South Korea plans to create a one trillion won (S$1.2 billion) fund to invest in companies developing overseas natural resources to secure stable supplies of energy and minerals.
The government will contribute 110 billion won to the fund with the rest coming from private investors, the ministry of knowledge economy said yesterday in a statement.
South Korea, which imports almost all its raw- materials, is boosting spending on oil and mineral projects as the global recession makes commodity assets cheaper.
Crude oil in New York has plunged 60 per cent from a record US$147.27 a barrel in July last year as demand declined.
The government aims to complete building the fund by September and start investing in overseas oil, gas and metal projects by the end of the year, the ministry said in the statement. -- Bloomberg
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>S Korea to start 1t won natural resources fund
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
</TD><TD>Email this article</TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Print article </TD></TR><TR class=font10><TD width=20 align=right>
</TD><TD>Feedback</TD></TR></TBODY></TABLE>(SEOUL) South Korea plans to create a one trillion won (S$1.2 billion) fund to invest in companies developing overseas natural resources to secure stable supplies of energy and minerals.The government will contribute 110 billion won to the fund with the rest coming from private investors, the ministry of knowledge economy said yesterday in a statement.
South Korea, which imports almost all its raw- materials, is boosting spending on oil and mineral projects as the global recession makes commodity assets cheaper.
Crude oil in New York has plunged 60 per cent from a record US$147.27 a barrel in July last year as demand declined.
The government aims to complete building the fund by September and start investing in overseas oil, gas and metal projects by the end of the year, the ministry said in the statement. -- Bloomberg
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