South Korea is one of the cornerstones of the global base oil industry and a major export hub, particularly for high-quality Group II and Group III products. Its importance lies not in volume, but also in technology and supply reliability.
The country exports more than 4 million metric tons a year. More than half of that goes to India, China and the United States, which have been the country’s top export destinations for quite some time.
Nearly 60% of installed capacity is API Group III and the rest is Group II. Three of the world’s 10-largest capacity base oil refineries are in the country – S-Oil Onsan, GS-Caltex Yeosu and SK On (formerly SK Enmove) Ulsan. These and the country’s other producers are well integrated into large refining and petrochemical complexes.
South Korea’s advanced base oils are well-positioned to meet the evolving requirements of lower viscosities, longer drain intervals and EV compatibility.
wpDataChart with provided ID not found!Major Producers
GS Caltex – a significant producer, with capacity of 23,000 barrels per day of Group II and 3,000 bbl/d of Group III
Hyundai Oilbank – growing presence, especially in Group II, of which it has capacity of 25,000 bbl/d
SK On – a global leader in Group III production with capacity of 26,000 bbl/d
S-OIL – major exporter of Group I (2,900), Group II (23,000) and Group III (16,900)