South Korea Targets 50% Middle East Oil Reduction by 2035 Amid Global Energy Shift

South Korea is set to reduce its reliance on Middle East crude oil to 50% by 2035, aiming to diversify energy supplies following the Iran war's disruption. The country currently imports 70% of its crude oil from the region in 2025, with most deliveries passing through the Strait of Hormuz.

According to the Industry Ministry, South Korea needs a 'fundamental shift' in supply chains, citing lessons learned from the Iran war. As part of this effort, the country plans to expand its stockpiling capacity for crude oil by around 20 million barrels by 2030.

The government also aims to secure additional supplies of condensate, an ultra-light oil used primarily to produce naphtha, a key feedstock for petrochemicals. South Korea struggles with a shortage of naphtha since the Middle East conflict.