South Korea Sets 10-Year Plan to Reduce Oil Import Dependence

South Korea’s government has approved its first comprehensive 10-year Resource Security Master Plan, outlining measures to strengthen the country’s energy and mineral supply chains through 2035.

The plan, finalized on September 23, 2026, under the Special Act on National Resource Security, sets out strategies to reduce reliance on crude oil imports from the Middle East and diversify energy sources. The Ministry of Trade, Industry and Energy published details of the plan and its objectives.

One of the main goals is to lower the share of crude oil imports from the Middle East from around 70% in 2025 to 50% or less by 2035. To support this, the government will expand crude oil stockpiling capacity by an additional 20 million barrels by 2030.

The plan also includes measures to diversify crude oil import routes, contract types, and crude grades. Support for refinery upgrades is included, allowing facilities to process lighter crude oils such as those from the United States.

What the numbers show

• Middle East crude oil import reliance targeted to drop from 70% in 2025 to 50% or less by 2035.
• Crude oil stockpiling capacity to increase by 20 million barrels by 2030.
• Natural gas import dependence on any single country to be capped below the 30% range by 2035.
• Critical minerals under state management to rise from 38 to 51 types.
• Mineral stockpiling program coverage to expand from 24 to 29 types.

In addition to oil, the plan addresses natural gas imports, aiming to ensure that no single country accounts for more than about 30% of South Korea’s natural gas supply by 2035. This is intended to further diversify the country’s energy sources and reduce supply chain risks.

The government will also expand the list of critical minerals managed under state supply-chain programs from 38 to 51 types. The additions include germanium, phosphorus, fluorite, and ten rare-earth elements, reflecting a broader approach to resource security.

Stockpiling efforts for minerals will be strengthened, with the number of mineral types covered by the program increasing from 24 to 29. The reserve target period for minerals identified as vulnerable in the supply chain will be extended from 180 days to as much as 365 days, according to the plan.

The Resource Security Master Plan covers the years 2026 to 2035 and is the first of its kind to be implemented across multiple government agencies in South Korea. The Ministry of Trade, Industry and Energy stated that these measures are designed to enhance the country’s resilience to global supply disruptions and maintain stable access to key resources.

* This article is based on publicly available information at the time of writing.