- System
- IEA
- Holding model
- mixed
- Stockholding body
- Ministry of Trade, Industry and Resources sets policy; Korea National Oil Corporation (KNOC) operates nine stockpiling bases with total capacity reported at 146 million barrels
- Obligation
- IEA: 90 days of net imports
- Reporting
- irregular
- Latest level
- 195.0 million barrels
- Level date
- 2025-12-22
- Cover
- 210 days
The December 2025 ministry figure is government stocks of about 100 million barrels plus private stocks of about 95 million barrels, and it predates the 2026 drawdown. Korea also holds joint storage with foreign national oil companies.
Last recorded action
2026-03-11: release of 22.5 million barrels. Korean contribution to the IEA collective action of 11 March 2026, recorded by the IEA at 22.5 million barrels (22.46 in Korean ministry reporting) and described by the ministry as the largest Korean release decision to date. (source)
Recorded actions
| Date | Actor | Type | Announced (million barrels) | Delivered (million barrels) | Status | Source |
|---|---|---|---|---|---|---|
| 2022-04 | South Korea (Ministry of Trade, Industry and Energy) | release | 7.2 | not stated | committed | IEA second action country contributions as reported in secondary coverage; combined total reported by Yonhap in 2026 |
| 2022-03-05 | South Korea (Ministry of Trade, Industry and Energy) | release | 4.4 | not stated | committed | Korea JoongAng Daily (Yonhap), reporting the ministry |
| 2021-12-23 | South Korea (Ministry of Trade, Industry and Energy; KNOC distribution) | loan | 3.2 | not stated | committed | Korea JoongAng Daily, reporting the ministry announcement |
Level source: Ministry of Trade, Industry and Resources statement, via Yonhap and Korea JoongAng Daily. Record confidence: partial.
Confidence note: System and IEA action verified from IEA pages; the latest level and capacity details rest on secondary reporting of ministry and KNOC statements.