Projections

South Korea’s government plans to use biofuels, including biodiesel, bio-heavy oil, bio-marine fuel, renewable diesel and sustainable aviation fuel (SAF), to help reduce the country’s carbon emissions.

The mandate for the on-road transportation sector is set at 8% v/v of bio-based diesel (5% v/v of biodiesel or fatty acid methyl ester (FAME), and 3% v/v of renewable diesel or hydrogenated vegetable oil) by 2030.

As of July 19, 2024, biodiesel capacity was 1.43 million tonnes/year. At the current running rate of 53-65%, this capacity is enough to meet demand for 5% v/v biodiesel (FAME) in 2030. A renewable diesel capacity of 300,000 tonnes/year is expected to come online in 2025. While this may not be enough to meet the 3% v/v blending target in diesel by 2030, oil refineries are