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Suspension of Iranian Oil Imports‚ What does it mean for Korea?

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저작자 미상 (저작물 2267374 건)

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공표년도

창작년도

2012-01-18

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Let's begin this half hour by talking about the on-going dispute between the U.S. and Iran dispute‚ which continues to make top headline news.
Washington seems determined‚ this time around‚ to apply heavy sanctions on Tehran to end its nuclear program.
And it has been making the rounds to rally support from its allies‚ including Korea.
That's right.
In fact‚ U.S. nonproliferation and arms control representative Robert Einhorn who's on a three-day visit to Korea as we speak held talks with Korea's Deputy Foreign Minister Kim Jae-shin Tuesday‚ and strongly urged Korea to slash its oil imports from Iran.
Although Seoul has expressed its willingness to support Washington's policy and end its deals with Iran's central bank‚ this raises red flags for many Korean firms and consumers who will be adversely affected by it.
Arirang's Kim Yeon-ji‚ who has been following the story‚ joins us in the studio to tell us why this new development concerns many in Korea.
Hello‚ Yeon-ji.
[Reporter : yeonji] Hello‚ Jihye. Hello‚ Sean.
As you mentioned‚ the prospect of suspending Iranian oil imports raises concerns for Korea which relies on foreign oil imports for 100-percent of ALL its oil needs.
The Korean government is running to and fro busily seeking suitable alternatives to Iranian oil.
For now‚ it appears that Oman‚ Saudi Arabia and the United Arab Emirates are the strongest candidates to replace Korea's Iranian oil imports.
We've heard from previous reports that Iran is not Korea's major oil supplier with its crude oil making up about 10-percent of all foreign oil imports in the nation.
Then‚ wouldn't finding other trade partners‚ like for instance Oman or Saudi Arabia as you mentioned‚ be a clear-cut solution for Korea[Reporter : yeonji] One barrel of Iranian crude is about 2 to 5 dollars cheaper than other kinds of crude.
Therefore‚ replacing cheap Iranian oil imports with other alternatives means Korea would need to pay extra per barrel.
A projection says this price difference alone would cost Korea some 400 billion won‚ or 350 million US dollars.
This will‚ of course‚ negatively affect Korean exports‚ production and consumption of goods altogether.
Now‚ let's take a look at the various aspects of this issue.
If Korea cuts its purchases of Iranian oil imports‚ the price of petroleum products will subsequently increase.
One of the products likely to be affected first is gas.
Although Korea has not yet suspended buying oil from Iran‚ Korea has seen gas prices go up as the wrangling over Iran continues.
[Reporter : Kim Yeon-ji] "Gas and diesel prices in Korea have been on the rise for the last two weeks or so. Although it does not appear likely that the gas price will top the sensitive 2‚000 won mark in the near future‚ the current trend is a matter of concern for many."
Compared to about two weeks ago‚ Koreans are now paying roughly 22 won or 2 cents more for gas per liter on average.
Although the amount seems small‚ the 2 cent price difference snowballs into a big fat total in the end.
[Interview : Hyun Sang-kyun‚ Consumer] "Oh‚ the gas price went up by a big amount. It used to be ok from mid-November to early December last year. But since then‚ the price has been on the rise‚ and I think the trend will continue until the Lunar New Year. In my opinion‚ it is highly possible that the condition will worsen. If that happens‚ I will leave my own car back at home and use public transportation more."
In some regions‚ including Seoul‚ the gas price has gone up by a higher amount and drivers say they are feeling the additional burden.
[Interview : Kim Sang-hyun‚ Consumer] "I think I've been paying about 5 cents more for each liter of gas compared to two weeks ago. The high price is a burde

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