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Northeast Asia(NEA) which geographically covers China, Korea, Japan and Taiwan, is a fast growing economic region with a rapid growth of oil consumption and trade. These countries with a great dependency of their oil consumption on Middle-east Asia have traded a large volume of oil product. While Korea exports its surplus petroleum products refined from crude oil to China, Japan and Southeast Asian countries, China and Japan are dependent on imported petroleum products from abroad. Due to this situation, Korea which is well positioned in NEA, has a strong opportunity to establish an oil hub in this region replacing with Singapore which plays an oil hub throughout Asia. The purpose of the study is to examine the possibilities of the oil hub of Korea in NEA while evaluating the competitiveness of an oil hub among the Northeast Asian countries. As compared and analyzed data and economic and political index, it is concluded that Korea has a number of strengths to become an oil hub in NEA but is necessary to improve the business environments to attract foreign oil partners including oil tank terminal companies and oil traders. Furthermore it should develop infrastructures related to the oil logistics management and improve institutions and regulations to foster an oil trading industry.


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Northeast Asia oil hub logistics trade Korea China Japan Taiwan