KOREA RESOURCES CORPORATION

Korea Resources Corporation (KORES) was incorporated in 1967 and focuses on securing the supply of bituminous coal, uranium, iron, copper, zinc, and nickel, which the Korean Government has selected as the 6 strategic minerals. KORES is a state-run company specializing in overseas resources development. The company produces bituminous coals, uranium, iron ores, and other related products. The Ministry of Trade, Industry & Energy is planning to set up a new corporation by combining the financially troubled Korea Resources Corporation (KORES) with the Mine Reclamation Corporation (MRC). Its role will be limited to supporting resources development by the private sector, focusing on providing assistance for overseas resources development and technical consulting to private companies.