Key facts
- South Korea aims to reduce its reliance on Middle East crude oil imports to 50% by 2035.
- The country plans to increase its oil reserves by 20 million barrels.
South Korea has announced plans to significantly reduce its dependence on crude oil sourced from the Middle East. The nation aims to lower these imports to 50% of its total crude oil supply by the year 2035. In conjunction with this strategy, South Korea also intends to bolster its strategic oil reserves by an additional 20 million barrels.