South Korea Aims to Cut Middle East Oil Dependence to 50% by 2035

Seoul intends to lower its dependence on crude oil imports from the Middle East to 50% by 2035, according to South Korea’s Ministry of Trade, Industry and Energy. The target forms part of the country’s decade-long natural resource security plan, designed to diversify energy sources following global energy supply disruptions tied to the Iran war.

Natural resource security strategy

The ministry described the required shift as a “radical transformation” of supply chains, citing lessons drawn from the Iran war’s impact on global energy flows. That conflict contributed to interruptions in energy deliveries worldwide, prompting Seoul to reassess long-standing import patterns.

Crude oil imports remain central to South Korea’s energy system. In 2025, 70% of the nation’s crude oil supply originated in the Middle East, with the majority transiting through the Strait of Hormuz.

Expanding condensate procurement

In parallel, the ministry confirmed efforts to secure additional volumes of condensate — an ultra-light form of crude oil widely used in naphtha production. Naphtha serves as the primary feedstock for the petrochemical industry.

South Korea has faced a naphtha shortage since the outbreak of hostilities in the Middle East, directly affecting domestic petrochemical manufacturing capacity.

Natural gas import targets

For liquefied natural gas (LNG), the government aims to reduce Middle Eastern imports to under 30% by 2035. That follows a prior reduction to 20% in 2025.