Korea National Oil Corporation

Thank you for visiting KNOC.

The global energy landscape is shifting rapidly, driven by supply chain uncertainties, the transition to carbon neutrality, and the advancement of AI technologies.

In response to these transformative times, Korea National Oil Corporation (KNOC) is redefining its strategies to proactively address the dual challenges of strengthening national energy security and achieving carbon neutrality, while preparing for a bold new leap forward.

Founded in 1979 following the global oil shocks, we began actively engaging in oil exploration and production (E&P) in the mid-1980s. In 1998, the successful development of the Donghae Gas Field placed South Korea among the oil-producing nations. Today, we leverage our world-class expertise to conduct energy projects across the globe and are fostering new growth engines, such as CCUS (Carbon Capture, Utilization, and Storage), by building on our established resource development capabilities.

We maintain a strategic reserve of 100 million barrels of oil across nine stockpiling bases nationwide, all of which have earned the highest rating in Process Safety Management (PSM). Furthermore, we have established a multi-layered response system through international joint stockpiling and the direct introduction of overseas-produced crude oil. This robust crisis management system ensures national energy security, providing peace of mind to the public even amidst geopolitical instability.

In addition, we provide in-depth analysis of international and domestic oil prices and supply trends to stabilize the energy market. Moving forward, we will implement AI-driven business innovations to expand services that the public can truly experience and benefit from.

As a sustainable public enterprise, KNOC will faithfully fulfill its national responsibilities and lead the future of the energy industry in this rapidly changing environment.

Joo Suk Son,
Korea National Oil Corporation President & CEO

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