Koreas

Dec. 22 (Asia Today) — South Korea has surpassed 100 million barrels in government-held oil reserves as it seeks to bolster energy security against global supply disruptions, the industry ministry said Monday.

The Ministry of Trade, Industry and Energy said the government’s secured stockpile exceeded 100 million barrels after the final tanker shipment of the year arrived at the Korea National Oil Corporation’s Geoje oil reserve base.

Including about 95 million barrels held by private companies, South Korea now has enough oil to cover more than 210 days under International Energy Agency standards in an emergency, the ministry said.

South Korea, which relies on imports for its oil, adopted a national stockpiling plan in 1980 and has expanded reserves over about 45 years after experiencing global supply shocks during past oil crises, the ministry said.

The country now holds the fourth-largest oil reserves among the agency’s member countries, the ministry said, describing the stockpile as an energy safety net that can help respond to supply crises.

The ministry said it plans to strengthen crisis response capabilities and shift focus from simply expanding volume to improving the quality of reserves.

In its fifth petroleum stockpiling plan prepared earlier this month, the ministry said it would restructure reserves to prioritize oil grades better suited to domestic demand.

An industry ministry official said oil reserve bases operate under strict safety requirements and the government will phase out aging equipment and strengthen disaster response systems.

– Reported by Asia Today; translated by UPI

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Dec. 16 (Asia Today) — South Korea’s People Power Party said Tuesday its number of dues-paying members is nearing 1 million, arguing the growth reflects a strengthening of the opposition since the Lee Jae-myung administration took office.

Secretary-General Jeong Hee-yong said at a parliamentary strategy meeting at the National Assembly that, as of December, the party had 963,231 dues-paying members, which he described as the highest level since membership statistics were first compiled.

Jeong said the party had 744,354 dues-paying members in late November last year. That figure fell to 711,528 in April, then rose to 751,030 by Aug. 26, when the party held its national convention. Since then, Jeong said dues-paying membership has increased by 212,201 compared with the convention period.

Jeong said the leadership does not view the increase as a typical election-season boost. He said the number of “responsible members” – defined as members who have paid dues for more than three months – also rose by 53,995 compared with the convention period. He called the scale of the increase unprecedented.

Jeong said public demand to push back against the Lee Jae-myung administration and the Democratic Party is being reflected in higher party membership. He said the participation and solidarity of members shows expectations for the People Power Party to mount a stronger opposition.

He added that the party aims to build a more active organization with its members, win the next local elections and position itself as an alternative party focused on people’s livelihoods.

– Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Kim Jong Un participates in latest public event to honour North Korean troops who served with Russian forces in war against Ukraine.

North Korea’s leader Kim Jong Un has hugged injured soldiers in wheelchairs at a ceremony in the capital, Pyongyang, to welcome home troops who served with Russian forces in the war against Ukraine.

State-run Korean Central News Agency said on Saturday that Kim praised the “mass heroism” of the returning 528th Regiment of Engineers of the Korean People’s Army, which had served in Russia’s Kursk region.

Kim hailed the regiment’s conduct during its 120-day overseas deployment, which commenced in early August and involved combat and engineering duties, including mine clearing in the Kursk region of Russia, where Ukrainian forces had infiltrated and occupied for months before withdrawing.

“You could work a miracle of turning a vast area of danger zone into a safe and secure one in a matter of less than three months, the task which was believed to be impossible to be carried out even in several years,” Kim said, according to South Korea’s Yonhap news agency.

“The armed villains of the West, armed with whatever latest military hardware they are, cannot match this revolutionary army with an unfathomable spiritual depth,” Kim added at the ceremony on Friday.

The North’s leader also spoke of the “heartrending loss” of nine members of the regiment and announced that the unit would be conferred with the Order of Freedom and Independence. The deceased troops would also be honoured with the title Hero of the Democratic People’s Republic of Korea, KCNA said, referring to North Korea’s official name.

Video footage of the ceremony released by North Korea showed uniformed soldiers disembarking from an aircraft and Kim embracing soldiers seated in wheelchairs, as other soldiers and officials gathered to welcome the troops.

The Russian Ministry of Defence confirmed last month that North Korean troops, who had helped Russia repel Ukraine’s incursion into Kursk, were now involved in clearing the area of mines.

Concluding a key meeting of his ruling Workers’ Party of Korea on Thursday, Kim also praised the deployment of North Korean troops in support of Russia’s war on Ukraine, saying it “demonstrated to the world the prestige of our army”.

North Korea’s “ever-victorious army” was the “genuine protector of international justice”, Kim said.

Under a mutual defence pact between Moscow and Pyongyang, an estimated 14,000 North Korean soldiers were deployed to fight for Russia, with the number of those killed or wounded ranging between 3,000 and 4,000.

The welcoming ceremony held on Friday marks the latest event to publicly honour North Korean soldiers who served in Russia’s war on Ukraine.

In October, Kim was featured embracing weeping soldiers at a ground-breaking ceremony for a planned memorial to those who fought for Russia, and in June, state media showed Kim draping coffins with the national flag in what appeared to be the repatriation of soldiers’ remains from Russia.