President Yoon Suk-yeol made a surprising announcement about potential oil and gas reserves off Korea’s southeastern coast, catching many off guard. The announcement was made during a briefing room session at the presidential office on June 3, 2024. Energy Minister Ahn Duk-geun was also present.
President Yoon’s announcement led to chaos as it was unexpected, even for the Ministry of Trade, Industry, and Energy. The timing and content of the announcement were kept confidential until the last minute, causing a scramble among reporters and broadcasters.
The revelation had a significant impact on the investment market, with share prices of related companies soaring. However, critics accused President Yoon of using the announcement for political gain.
The decision to withhold information was attributed to concerns about inaccurate leaks affecting the market. Companies like Korea Gas Corp. and Korea National Oil Corp. saw substantial increases in their stock prices.
Criticism arose, with accusations of the president’s selective transparency in addressing public issues. Despite the controversy, the unexpected revelation caused a stir in both political and business circles.
By Lee Seung-jun, staff reporter; Choi Woo-ri, staff reporter; Cho Kye-wan, staff reporter
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