South Korea launches compulsory measures to cut oil consumption

Seoul (Platts)--19May2006

South Korea will restrict the use of cars by government and public
officials as part of efforts to reduce oil consumption, the energy ministry
said Friday.
Under the measures, officials at state-run companies and government
agencies will be required to leave their cars at home once a week to reduce
fuel consumption, Commerce, Industry and Energy Minister Chung Se-Kyun said
after a state energy committee meeting presided over by President Roh
Moo-Hyun. But Chung said the government is not considering for now imposing
compulsory restriction on the use of passenger cars by individuals.
Under the energy-saving measures, department stores, banks and office
buildings will be also required to keep their cooling temperatures above a set
temperature, Chung said.
Earlier this week, the government unveiled an energy blueprint in which
it would use Won 12.2 trillion ($12.9 billion) over the next five years to
develop oil fields and new energy sources.
Energy-poor South Korea, the world's fourth largest crude importer, is
vulnerable to rises in oil prices because it imports almost all of its crude
requirements, more than 80% of which comes from the volatile Middle East.


 

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