중국의 석유소비가 한국의 동북아 석유물류허브 구축에 미치는 영향

The Effects of China’s Oil Consumption on the Establishment of Korea’s Oil Logistics Hub for the Northeast Asia

The main objective of this paper is to analyze the effects of China’s oil consumption on the establishment of Korea’s oil logistics hub for the Northeast Asia. In order to draw implications for Korea’s oil hub strategy from the rapid increase in the oil consumption in China, we investigate first the situation in China’s demand and supply of oil as well as export and import of oil. In doing so, we use data for oil products from the various sources including FACTs, BP etc. In addition, we also analyze the changes in the oil industry policy in China to deeply understand China’s oil market. We argue from the analysis that Korea can play a central role in terms of oil trade and oil logistics in the Northeast Asia because Korea has comparative advantages in many aspects with oil hub. Considering the huge economic spillover effects from the existing oil hubs in the world at Singapore, ARA, and Gulf area in the U.S.A., we argue that Korea should be born again through the establishment of the oil hub for the Northeast Asia. Korea needs to overcome several bottlenects with infra like tank storage, especially with institutions related to the oil logistics to become an oil hub in the Northeast Asia.