Korea has been re-elected by the Assembly of the International Seabed Authority (ISA) as one of the four major Group B investor states in the international body, countries which have made some of the larger investments into deep-sea mining projects worldwide. The announcement was made during the 20th ISA General Assembly held in Kingston, Jamaica, on July 25, according to the Ministry of Oceans and Fisheries (MOF).
With the re-election, Korea will serve as a "major investor" from 2015 until 2018.
The ISA is an intergovernmental body based in Kingston, Jamaica, that was established in 1994 by the United Nations Convention on the Law of the Sea (UNCLOS). Its goal is to develop and control mineral resources while supervising all mineral-related activities in the international seabed beyond the limits of national jurisdiction.
The watchdog has a total of 166 member states. Korea started its role in Group E, a group that has 18 members, with “Equitable geographical representation.” In 2009, Korea had its status elevated to Group B and has since served as one of the ISA's largest investors.
In addition, since 1996 Korea has served as part of the board of directors and on the legal and technical commission. Now, it has actively engaged in securing and exploring areas of deep-sea mining across the Pacific Ocean, the Indian Ocean and in the exclusive economic zones (EEZ) near two Pacific nations, all while developing related underwater technologies.
“Taking our re-election as a turning point, we will keep playing an active role in setting up international institutions that oversee deep-sea mining activities,” said Director General Kim Jun-seok, part of the Marine Industrial Policy team at the MOF. “We will also continue to develop exploration techniques designed for mineral mining.”
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
With the re-election, Korea will serve as a "major investor" from 2015 until 2018.
The above map shows the specific areas of seafloor -- the Clarion-Clipperton Zone in the northern Pacific, Fiji’s Exclusive Economic Zone, Tonga’s Exclusive Economic Zone and the Central Indian Basin in the Indian Ocean -- in which Korea has been authorized by the International Seabed Authority to explore for mineral resources. These include manganese and hydrothermal deposits. (photo courtesy of the Ministry of Oceans and Fisheries)
The ISA is an intergovernmental body based in Kingston, Jamaica, that was established in 1994 by the United Nations Convention on the Law of the Sea (UNCLOS). Its goal is to develop and control mineral resources while supervising all mineral-related activities in the international seabed beyond the limits of national jurisdiction.
The watchdog has a total of 166 member states. Korea started its role in Group E, a group that has 18 members, with “Equitable geographical representation.” In 2009, Korea had its status elevated to Group B and has since served as one of the ISA's largest investors.
In addition, since 1996 Korea has served as part of the board of directors and on the legal and technical commission. Now, it has actively engaged in securing and exploring areas of deep-sea mining across the Pacific Ocean, the Indian Ocean and in the exclusive economic zones (EEZ) near two Pacific nations, all while developing related underwater technologies.
“Taking our re-election as a turning point, we will keep playing an active role in setting up international institutions that oversee deep-sea mining activities,” said Director General Kim Jun-seok, part of the Marine Industrial Policy team at the MOF. “We will also continue to develop exploration techniques designed for mineral mining.”
By Sohn JiAe
Korea.net Staff Writer
jiae5853@korea.kr
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