Great Whale Project sets sail, but faces difficulties from the start

[Anchor]

The drilling ship for the East Sea deep-sea gas field development project, known as the 'Great Whale Project,' has arrived at the site and is expected to begin drilling as early as tomorrow (12.19).

Although it is a key project of the Yoon Suk Yeol government, it is facing difficulties from the start due to budget cuts amid the impeachment situation and backlash from fishermen.

Choi Bo-kyu reports.

[Report]

40 kilometers southeast of Yeongilman Port in Pohang, North Gyeongsang Province.

The West Capella, which is set to begin the first drilling of the East Sea deep-sea gas field, has made its appearance.

It is expected to start drilling as early as tomorrow, collect samples for two months, and then announce the first drilling results around the first half of next year.

[Korea National Oil Corporation official: "We are working on precise positioning for the drilling location and conducting pre-drilling preparations with the on-site personnel."]

The problem lies in the project costs.

The opposition party has cut the project budget for next year by 98%.

Although the oil corporation has secured 100 billion won for the first drilling from its own budget, additional budget acquisition remains uncertain.

4 trillion won is needed for the four additional planned drillings, but the oil corporation is in a capital erosion situation and lacks the capacity.

They have stated that they will secure funds through attracting foreign investment starting from the second drilling, but there are many variables, including the success of the first drilling and the impeachment of the president.

Fishermen's backlash is also strong.

Fishermen catching red crabs in the drilling area are demanding compensation, claiming that the drilling period coincides with the peak fishing season.

[Kim Jin-man/Chairman of the Pohang Gu-ryong-po Red Crab Shipowners Association: "(The red crab) has a closed season for 50 days, from July 10 to August 25, so it would have been fine to drill during that time. Why is this happening now, causing conflict with fishermen?"]

However, the oil corporation maintains that it cannot compensate for damages such as the decline in fishery resources.

While the projects has begun amid the impeachment political situation, some believe its future momentum depends on the results of the first drilling.

KBS News, Choi Bo-kyu.