Renewable Fuel Standard under the Petroleum and Alternative Fuel Business Act
Refiners and importers must blend biodiesel into automotive diesel under a stepped national Renewable Fuel Standard, rising toward 5%.
Timeline
- 2015
RFS starts at a 2.5% biodiesel blending obligation.
- 2021
Obligation raised to 3.5%.
- 2024
Obligation raised to 4.0%.
- 2030
Step-up path toward 5% under the announced schedule.
Requirements
- Obligation falls on refiners and importers placing automotive diesel on the domestic market.
- Blending share is set by presidential decree and steps up every two to three years.
- Feedstock and GHG criteria applied through the administering agency's verification rules.
Compliance status & enforcement
- Administrator
- Ministry of Trade, Industry and Energy with the Korea Energy Agency
- How compliance is shown
- Annual reporting of diesel volumes and blended biodiesel to the Korea Energy Agency.
- Penalty for shortfall
- Corrective orders and administrative fines under the Petroleum and Alternative Fuel Business Act.
- Tradable unit
- None — physical blend obligation