Subscribe free to our newsletters via your
. Energy News .

S. Korea sets $694 mln payout for 2007 oil spill
by Staff Writers
Seoul (AFP) Jan 17, 2013

A South Korean court has ordered a $694-million compensation payout to victims of the country's worst oil spill, which fouled miles of coastland in 2007, decimating local fishing and tourism industries.

"This is the first estimate of the damage officially made by the court. It is the first big step towards compensating those affected by the oil leak," court spokesman Choi Noo-Lim told AFP on Thursday.

The spill occurred when a a Samsung Heavy Industries barge carrying a construction crane broke free and rammed an anchored Hong Kong-registered supertanker, which subsequently leaked 10,900 tons of crude oil.

Miles of beaches, notably in Taean county about 110 kilometres (70 miles) southwest of Seoul, were smothered by the spillage.

The accident devastated the region's once-vibrant fishing and tourism industries, leading to a number of suicides by local residents as a legal wrangle over who qualified for compensation dragged on for years.

The court in the city of Daejeon set the total damage to area residents and businesses at 734.1 billion won ($694 million).

It ordered Hebei Spirit Shipping, the owner of the supertanker, to shell out 145.8 billion won and Samsung Heavy Industries 5.6 billion won.

The London-based International Oil Pollution Compensation Funds (IOPC) and the South Korean government are to cover 178.4 billion won and 404.3 billion won, respectively.

The payout is a record for environmental accidents in South Korea, but less than 20 percent of the 4.2 trillion won originally sought by some 120,000 affected residents and businesses.

They have two weeks to file objections to the court's estimate.

"I'm afraid there will be objections by many, many residents whose compensation bids were either reduced or rejected... which will further delay actual payout to victims," Choi said.

The IOPC may also challenge the figure, which is far higher than its own assessment.


Related Links
Powering The World in the 21st Century at

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Philippine group says China firm vital for gas project
Manila (AFP) Jan 17, 2013
A Philippine consortium insisted Thursday a gas project in the disputed South China Sea could only work with the involvement of a Chinese firm, otherwise Beijing could make things difficult. The Philippine government has awarded the Forum Energy consortium the exploration contract for a potentially huge gas field off Reed Bank in waters at the centre of a fierce territorial row between Manil ... read more

United States lags in clean energy: study

Renewable energy on increase but 2030 target in doubt

First world atlas on renewable energy launched

Major cuts to surging CO2 emissions are needed now, not down the road

Nigeria grapples with growing oil theft

S. Korea sets $694 mln payout for 2007 oil spill

Philippine group says China firm vital for gas project

Russia to build pipeline with Croatia

Japan plans world's largest wind farm

China revs up wind power amid challenges

Algonquin Power Buys 109 MW Shady Oaks Wind Power Facility

British group pans wind farm compensation

Snail Teeth Improve Solar Cells And Batteries

Device Tosses Out Unusable PV Wafers

NRL Designs Multi-Junction Solar Cell to Break Efficiency Barrier

Sempra US Gas and Power Energizes First Phase Of Arizona Solar Project

South Korean nuclear reactor shuts down

Pro-nuclear activists get pulpit at Sundance

French nuclear firm tightens safety at Niger mine

Argentina aims to revive nuclear exports

Marginal lands are prime fuel source for alternative energy

Marginal land can help meet US biofuel target: study

US Ag Sec Visits Renmatix For Plant-To-Sugar Facility Commissioning

Synthesis Energy Achieves First Methanol Production at Yima JV

China to launch 20 spacecrafts in 2013

Mr Xi in Space

China plans manned space launch in 2013: state media

China to launch manned spacecraft

Where there's smoke or smog, there's climate change

NASA Finds 2012 Sustained Long-Term Climate Warming Trend

Global warming beneficial to ratsnakes

Climate laws advancing in many countries: survey

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement