Overseas Energy Investment of Korea and Japan

Book excerpt: Under the contraction of global energy supply brought on by geopolitical situation, this timely book addresses how resource-scarce developing countries respond to challenges in energy security. In particular, for countries underpinning efforts for an autonomous supply of energy, either oil/natural gas, nuclear power or renewable energy, this book revisits the evolution of overseas energy investment of two industrial giants in East Asia, Korea and Japan. It will provide meaningful lessons of how the state sets up policies and navigates political procedures for energy security. While a historical case study, it also offers its readers new insight into the international energy market by taking the stark déjà vu in its repetitive nature and putting it into context. The book provides an in-depth study highlighting the differences in political systems which led to contrasting outcomes. The one with a small number of veto players succeeded in establishing and expanding state-owned oil companies while producing policy inconsistency at the same time and vice versa. This comprehensive review of East Asian politics will add value to East Asian Studies by presenting a new approach through a universal theory rather than cultural uniqueness. As a readable case study on energy security, this book will be an essential reference for scholars, policymakers, industry insiders and citizens who are interested in how nations respond to historic challenges in a political and international context.