South Korea's Oil Dependency: Why the Nation Relies on Imports

South Korea possesses no significant domestic oil reserves, making the country almost entirely dependent on foreign energy sources to fuel its economy. This reliance shapes national energy policy, drives strategic stockpiling, and underscores the importance of diversified import routes. While the nation has invested heavily in nuclear power and renewable energy to reduce vulnerability, oil remains a critical component of its energy mix, particularly for transportation and petrochemical industries. Understanding this dependency is key to grasping South Korea's geopolitical and economic strategies.