India and South Korea agreed with the US on the outline of deals that would allow them to keep importing some Iranian oil, according to Asian officials with knowledge of the matter.
India is being hit by a wave of steel from producers in Japan and South Korea, a government document showed, as mills there redirect supply after U.S. President Donald Trump slapped an import duty on the alloy earlier this year.
South Korea has sought the intervention of the Prime Minister Narendra Modi’s office (PMO) to instil confidence among Korean investors, while airing serious concerns over the fate of existing Korean investments in the Indian power sector. South Korean president Moon Jae-in is touring India since Sunday.
South Korea will not lift any Iranian crude and condensate in July, halting all shipments for the first time in six years amid US pressure to cut all imports of Iranian oil from November, sources familiar with the matter said on Friday.
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the polluting fuel, both in the short and longer terms.
Cabinet approves Long Term Agreements for supply of iron ore to Japan and South Korea through MMTC Limited
The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has approved the renewal of Long Term Agreements (LTAs) for supply of iron ore (lumps and fines) of grade +64% Fe content to Japanese Steel Mills (JSMs) and POSCO, South Korea for another five years (i.e. 1.4.2018 upto 31.3.2023) through MMTC Limited.
India is looking to explore a Memorandum of Understanding (MoU) with South Korea to develop a Highway Information System (HIS) in the country. To be developed on the lines of the Express Highways Information Corporation (EHIC) of South Korea, the system would include monitoring of national highways along with a centralised control room.
South Korea expects its natural gas demand to rise to over 40 million tonnes in 2031, driven by higher household and industrial consumption of the fuel, the energy ministry said on Thursday.
As President Donald Trump railed against a growing trade deficit last year, two countries in Asia quietly cut their bilateral surpluses with the US It’s unclear what they got in return.
South Korea’s move to shut coal-fired generators to control air pollution at the same time as nuclear reactors are going into scheduled maintenance is resulting in surging fuel oil imports, as utilities burn the dirty feedstock to meet power demand.