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Carbon Hub → Country × industry → South Korea · Oil refining
Data layer · est. 2023

Oil refining in South Korea: emitters, CO2 & carbon value

9 tracked facilities, ≈32,445,787 t CO2/yr combined — here are the largest, what that CO2 is worth at current prices, and the sector's reduction pathway. Full sector pathway: decarbonizing oil refining.

The numbers

Oil refining in South Korea at a glance

MetricValueNote
Facilities tracked9with CO2 estimates
Total est. CO232,445,787 t/yrClimate TRACE 2023
Average per facility3,605,087 t/yr
Gross value (full price)€2,596M/yrall tracked CO2 × €80.01/t EUA — before free allocation / EU-bound share

Carbon pricing here: K-ETS since 2015 — covers ~73% of national emissions; KAU price has traded ≈€5–10 (2024–25, World Bank State & Trends of Carbon Pricing 2025 / ICAP 2025). Current benchmark: no liquid market price. Full country page: carbon price in South Korea.

Largest emitters

Top 9 oil refining CO2 emitters in South Korea

#FacilityOwnert CO2/yr (est. 2023)Indicative value
1GS-Caltex Yeosu Refinery—8,882,869€710.7M
2SK Ulsan RefinerySK Inc7,295,436€583.7M
3S-Oil Onsan RefinerySaudi Arabian Oil Co6,196,517€495.8M
4Hyundai Oilbank Daesan RefineryHyundai Oilbank Co Ltd5,778,641€462.3M
5SK Incheon Oil RefinerySK Inc1,451,565€116.1M
6Hanwha Total Condensate SplitterHanwha Energy Corp946,920€75.8M
7Hyundai Lotte Daesan Condensate SplitterHyundai Oilbank Co Ltd895,888€71.7M
8SK Incheon Condensate SplitterSK Inc527,326€42.2M
9S-Oil Onsan Condensate Splitter—470,625€37.7M

Climate TRACE satellite estimates via IndustryAtlas — modelled, not verified; some entries aggregate clusters. Corrections welcome.

⬇ This table (CSV)🖨 PDF for management
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Same industry, other countries
Oil refining in United States
186,505,868 t CO2/yr
Oil refining in China
128,888,870 t CO2/yr
Oil refining in India
70,283,893 t CO2/yr
Oil refining in Russian Federation
59,137,040 t CO2/yr
Oil refining in Japan
26,447,233 t CO2/yr
Other industries in South Korea
Iron & steel in South Korea
81,601,450 t CO2/yr
Cement in South Korea
21,704,807 t CO2/yr
Petrochemicals (steam cracking) in South Korea
17,359,518 t CO2/yr
FAQ

Questions

How many oil refining facilities does South Korea have with tracked emissions?
9 facilities carry satellite-based CO2 estimates in our dataset (Climate TRACE 2023), totalling ≈32,445,787 t CO2/yr.
What is the largest oil refining emitter in South Korea?
GS-Caltex Yeosu Refinery — ≈8,882,869 t CO2/yr (est. 2023). Estimates are modelled, not verified declarations.
What would this CO2 cost at the EU price?
The gross full-price value is ≈€2,596M/yr (all tracked CO2 × €80.01/t EUA). Actual EU ETS cost is lower — free allocation still covers most industrial emissions, phasing out 2026→2034.
How this page is built: heat-loss figures follow ASTM C680 / ISO 12241 (the method behind our public calculators); facility emissions from Climate TRACE & EU ETS verified data across 30,000+ industrial sites; the 2026–2034 schedule is Regulation (EU) 2023/956, not a forecast. Published by Inzonex Research. Spotted an error? Tell us — we correct on evidence.
Source: Inzonex Carbon Hub — inzonex.co.uk/carbon · prices dated as shown on each figure · schedule per Regulation (EU) 2023/956 · indicative analytics, not compliance advice.