The government's revenue from 'The Great Whale' will be raised to up to 12% → 33%.

If the development of the Donghae deep-sea gas field, the so-called Great Whale project, is successful, a plan has been confirmed to increase the "lighting rate," which is a profit paid to the country as a "royalty," from up to 12% to 33%.

Dimming fees are money that the government grants domestic and foreign companies the right to develop oil and gas, and receives in return.

The Ministry of Trade, Industry and Energy said a revision to the Enforcement Decree of the Submarine Mineral Resources Development Act, which raises the dimming rate, was approved at the Cabinet meeting.

The move is interpreted as a move to attract investment in global oil companies but allow proper returns to be returned to the treasury in the event of large returns, dispelling concerns about the outflow of national wealth raised by some.

The revision of the enforcement ordinance included calculating the dimming rate proportional to profitability, raising the maximum rate, and introducing additional dimming fees during the period of high oil prices.

The Ministry of Industry said it has reorganized the current dimming system designed for small-scale oil and gas fields to suit large-scale development and pushed for a revision of the enforcement decree to promote proper profit distribution between the government and investment companies.

It also added that it plans to do its best to successfully develop domestic gas fields, including the East Sea deep-sea gas field, which is currently being promoted under the revised dimming system.