Oil and Gas

South Korea's President Yoon Suk Yeol has given his approval to a plan for offshore drilling on the east coast, a move aimed at exploring potentially substantial reserves of crude oil and natural gas in one of the world's largest importers of these resources. During a press conference on Monday, President Yoon revealed that the area under consideration could hold as much as 14 billion barrels of oil and gas, according to studies reviewed by industry groups and experts. The drilling site is located off the southeastern industrial port city of...