“This kind of business should be done by attracting private capital.”,
, ‘On the 5th, Lee Jae-myung, the representative of the Democratic Party of Korea, commented on President Yoon Suk-yeol’s announcement regarding the possibility of petroleum and gas reserves in the Yeongilman area in Pohang, saying, “We seriously need to consider whether it is appropriate to solely use government budget for this endeavor.” The government estimates that at least 500 billion won will be required for the drilling project, to which Lee, the representative, raised concerns of ‘wastage of government budget.’,
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Lee Jae-myung, the representative of the Democratic Party of Korea, introducing senior member Jeon Eun-su in the top committee meeting held at the National Assembly in Yeouido, Seoul on the morning of the 5th. /news1,
, ‘On that day at the end of the top committee meeting held in the morning at the National Assembly, the representative made additional remarks, stating, “Fundamentally, attracting private capital for such projects is appropriate.”‘,
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, ‘Referring to the government’s mention of a drilling success rate of 20%, the representative emphasized, “In other words, it means an 80% failure rate.” He criticized the notion that by investing 1 billion won five times with a 20% probability, success is guaranteed, saying that such remarks should not be made.’,
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, ‘He further stated, “It is said that drilling five locations currently requires 500 billion won, which is becoming similar to the funds invested in the Busan Expo.”‘,
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, ‘While expressing hope for success, he also emphasized the need for careful and stable governance to prevent unnecessary budget wastage and excessive public expectations that may lead to shocks similar to the failure of the Expo from occurring later on.’,
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, ‘Earlier, President Yoon stated in his first national briefing on the 3rd after assuming office, “A physical exploration result indicated a high possibility of extensive reserves of petroleum and gas in the waters off Yeongilman in Pohang.” In response, the Democratic Party criticized the announcement as being for the purpose of reversing the declining approval ratings.’,
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, ‘As the lineup of the opposition is completed, the Democratic Party is expected to convene related standing committees such as the Industry, Trade, and Energy Committee regarding Yeongilman petroleum. On this day, Han Min-soo, the Democratic Party spokesperson, met with reporters after the top committee meeting and conveyed that there is a need for fact-checking at the standing committee level, as it involves the expenditure of billions of won in national budget.’,
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