The Ministry of Trade, Industry and Energy held the 7th 2025 Oil Conference on December 16, under the theme ‘Strategic Transition and Sustainable Growth of the Refining Industry,’ with over 200 attendees discussing the future development direction of the domestic oil industry.
Kim Tae-hwan from the Korea Energy Economics Institute projected that oil demand would remain at current levels until 2035, but emphasized the need to secure supply stability as oil production investment has stagnated for a decade. Choi Jun-young from Yulchon LLC suggested that domestic refiners should integrate and standardize process data to lay the foundation for AI utilization, as global refiners are improving efficiency through AI. Professor Bae Choong-sik from KAIST stressed the need for a balanced approach using various power sources, including electric vehicles, hybrids, and E-Fuel, to achieve the 2035 NDC.
Following the presentations, a discussion moderated by Professor Cho Hong-jong from Dankook University took place with industry-academia experts, and the Minister’s Commendation was awarded to 10 individuals for their contributions to establishing oil distribution order.
A representative from the Ministry of Trade, Industry and Energy stated that to maintain the global competitiveness of the refining industry and address the challenge of carbon neutrality, the government plans to promote the spread of manufacturing AI, expand support for facility efficiency investments, and improve systems for the use of eco-friendly raw materials.