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A magnitude 4.8 earthquake struck near Buan, North Jeolla Province, early Wednesday, sending off alerts across the nation and causing minor property damage. Although no injuries were reported, the strong quake highlighted the need for tight, systematic preparations against tremor-related disasters. The temblor struck near the southwestern county at 8:26 a.m. at an estimated depth of 8 kilometers, according to the Kor. ....
President Yoon Suk Yeol took it upon himself to announce that Korea will embark on exploratory drilling later this year, following the identification of potential reserves of up to 14 billion barrels of crude oil and natural gas off the coast of Pohang, North Gyeongsang Province. ....
President Yoon Suk Yeol’s surprise press briefing Monday over the possibility of gas and oil sent energy stocks higher and generated plenty of media buzz about a rosy scenario for a country heavily dependent on imported resources. But there are skeptical views about its feasibility. Yoon said the government has approved a massive project to kick off exploratory drilling in search of gas and oil reserves in the . ....