China, India And South Korea - Why And How The Three "Newcomers" In Deep Seabed Mining Should Cooperate

China, India and South Korea are three developing/newly industrialized countries that can show a very positive economic development in latter years. Moreover the three countries also feature amongst the countries with the highest level of activity in deep seabed mining today. India was the first country to achieve Pioneer Investor status in accordance with the UN Convention on the Law of the Sea. The country has carried out comprehensive exploitation of nodule deposits in the Central Indian Basin. India has an active programme for development of mining technology and internationally, India is probably the leading nation today as far as processing technology is concerned. China for its part has established a central coordination unit for its deep seabed involvement and its exploration and technology development is already well underway. South Korea has applied for Pioneer Investor status and much indicates that it will be allocated its own minesite in the autumn of 1994. The three countries are in mutual contact in the area of the Law of the Sea. Korea contacted both China and India when drawing up its application for pioneer investor status and allocation of minesite. However, no cooperation exists between the three regarding for example technology development, economic analysis or in studies of the environmental consequences. The main purpose of this paper is to focus on why and how the three countries would be well advised to cooperate in the above areas. Economic, technological and organizational aspects all point in that direction.