(Newsis)
South Korea’s dependence on Middle Eastern energy has recently declined sharply as the prolonged war in the Middle East heightens uncertainty over energy supplies, data showed on Sunday.
According to data from the Korea Customs Service, the share of Middle Eastern crude oil in Korea’s total oil imports stood at 59 percent between March and April, when the impact of the Middle East conflict intensified.
This marked a decline of 8.5 percentage points from 67.5 percent recorded during the same period a year earlier.
Over the same period, the share of Middle Eastern liquefied natural gas (LNG) imports plunged from 16.7 percent to 3.8 percent, while the proportion of Middle Eastern naphtha imports dropped sharply from 59.5 percent to 30 percent, highlighting a clear shift away from the Middle East.
The reduced supply from the Middle East was replaced by imports from Africa and South America.
In particular, crude oil was replaced by supplies from Ecuador and Congo, LNG from Malaysia, and naphtha from India, the United States, and Greece.
“Each company secured alternative oil supplies based on suppliers compatible with their refining facilities or with whom they had previous trading relationships,” said an official from the refining industry.
Despite the latest shift, it remains uncertain whether Korea can truly move away from Middle Eastern energy.
This skepticism stems from the 2010s, when the country‘s reliance on Middle Eastern crude oil also dropped, only to rebound shortly after.
According to the Korea Institute for International Economic Policy (KIEP), the share of Middle Eastern crude imports fell from 82.3 percent in 2015 to 59.8 percent in 2021, only to climb back to around 70 percent from 2023 onward.
The rebound was largely triggered by the Russia-Ukraine war.
As Europe lost access to Russian crude supplies, European countries increased imports from the U.S. and Africa, while China and India expanded purchases of Russian crude. This, in turn, increased the availability of Middle Eastern crude for Asian countries including Korea.
The key attraction of Middle Eastern crude oil lies in its cost competitiveness.
Shipping times from the Middle East average around 20 days, while transportation costs stood at $1.87 per barrel in 2025, far below the global average of $2.99 and significantly cheaper than the $3.93 cost for U.S. crude.
Experts point to portfolio diversification as the most realistic solution.
They advise prioritizing the U.S. as the primary alternative supplier due to its relatively low geopolitical risk, while supplementing imports with Russian Urals crude and South American oil that are compatible with domestic refining infrastructure.
Some analysts also suggest that Korea should engage in negotiations with major buyers of its petroleum products, such as Australia and Angola.
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