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However, its location in Northeast Asia alone may be enough for the country to become the world's fourth international oil hub, according to Baik Moon-hyun, president of OKYC.
"Being close to China's northern region is a great advantage," he said while meeting with reporters earlier, adding that Northeast Asian countries, including South Korea and Japan, already account for 19 percent of global oil consumption.
However, its location in Northeast Asia alone may be enough for the country to become the world's fourth international oil hub, according to Baik Moon-hyun, president of OKYC.
"Being close to China's northern region is a great advantage," he said while meeting with reporters earlier, adding that Northeast Asian countries, including South Korea and Japan, already account for 19 percent of global oil consumption.
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