Published : Jan. 3, 2022 - 10:16
South Korea's power generation (Yonhap)
Indonesia's recent ban on coal exports is expected to have a limited impact on South Korea, the industry ministry said Monday, but the Seoul government set up a task force to closely manage the situation as a precaution.
Last week, Indonesia announced it has banned exports of coal in January, citing concerns over widespread blackouts due to low supplies at its domestic power plants.
Jakarta is one of the world's major exporters of thermal coal, and around 20 percent of South Korea's coal imports came from the Southeast Asian country last year.
"Despite a limited short-term impact, swift and thorough countermeasures are necessary as energy demand is high in winter," Vice Industry Minister Park Ki-young said in a meeting with officials from the country's embassy in Indonesia and state-run energy companies.
The meeting is meant to assess the situation and discuss measures to prevent any possible fallout, according to the Ministry of Trade, Industry and Energy.
During the meeting, the officials said the restriction is expected to partly delay the shipment, but around 55 percent of the coal to be imported this month will arrive in South Korea as planned, according to the ministry.
South Korea also has enough stockpile and the imports from Australia and other nations are continuing without a hitch, so Indonesia's move will not have a serious impact, the ministry added. (Yonhap)