Korea–Japan JDZ to End in Deadlock?: The Potential for Unilateral Korean Exploration and Exploitation

Abstract

The Korea–Japan Joint Development Zone (JDZ) Agreement of 30 January 1974 was one of a number of innovative arrangements for cooperation in an overlapping maritime area. Nevertheless, four decades after its entry into force in 1978, the Agreement has not produced a single drop of oil. In contrast with Korea’s positive view on an oil discovery, Japan has held a negative stance since its concessionaires’ release of rights under the Agreement in 1992. Without Japan’s cooperation, the Agreement is a dead instrument. This article looks, from a Korean perspective, for the solutions whereby the Korea–Japan JDZ Agreement can operate.