The Venezuelan Embassy in Seoul held a press briefing in Seoul last week on the current government's position to a controversial referendum that occurred Sunday over whether the Venezuelan government could claim sovereignty over the disputed Essequibo territory.

In the leadup to Sunday's referendum, the Venezuelan Embassy presented its view of the historical context to the territorial dispute and its "unwavering commitment to sovereign rights."

Venezuela's current government of Nicolas Maduro argues that it was dispossessed of Essequibo, which encompasses over two-thirds of Guyana's landmass. Formerly a Dutch and then British colony, currently Essequibo has a population of 200,000, one-fourth that of Guyana's total 800,000 inhabitants, and is rich in oil and minerals.

Venezuela claims that the Essequibo River, declared as a natural border in 1777 under Spanish rule -- before Venezuela declared independence in 1811 -- validates its claim, alleging that the UK wrongfully appropriated the territory from Venezuela in the 19th century.

However, Guyana maintains that the current border was established during the British colonial era and confirmed in 1899 by an arbitration court. Guyana denounces Sunday's referendum as a step towards Venezuela annexing the territory.

The International Court of Justice (ICJ) has upheld Guyana's position, and despite Guyana having requested it to intervene in Sunday's referendum, Venezuela has proceeded with holding it, bypassing the ICJ.