South Korea To Impose Naphtha Export Controls This Week
March 24 (Korea News): According to Yonhap News Agency, as Iran’s prolonged blockade of the Strait of Hormuz disrupts naphtha supply, the South Korean government is likely to implement naphtha export controls this week. On March 24, Yang Gi-wook, Director of the Industrial Resource Security Division at the Ministry of Trade, Industry and Energy (MOTIE), held a press conference at the Government Complex in Sejong and stated that MOTIE is coordinating and communicating with relevant agencies regarding plans to impose naphtha export restrictions. Naphtha is a fundamental raw material for petrochemical products; South Korea sources 55% of its naphtha domestically from local refineries, with the remainder imported.
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2026-03-24 14:59:10
South Korea To Impose Naphtha Export Controls This Week
March 24 (Korea News): According to Yonhap News Agency, as Iran’s prolonged blockade of the Strait of Hormuz disrupts naphtha supply, the South Korean government is likely to implement naphtha export controls this week. On March 24, Yang Gi-wook, Director of the Industrial Resource Security Division at the Ministry of Trade, Industry and Energy (MOTIE), held a press conference at the Government Complex in Sejong and stated that MOTIE is coordinating and communicating with relevant agencies regarding plans to impose naphtha export restrictions. Naphtha is a fundamental raw material for petrochemical products; South Korea sources 55% of its naphtha domestically from local refineries, with the remainder imported. -
2026-03-24 14:33:04
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