The Korea Petroleum Quality & Distribution Authority (K-Petro) said it will unify and implement, starting on the 20th, the collection and refund work for legally mandated charges related to oil and gas, which had been split between two agencies.
The move follows the "amendment to the Enforcement Decrees of the Petroleum and High-Pressure Gas Business Acts." Previously, the Korea National Oil Corporation (KNOC) collected the legally mandated charges, and the oil authority handled refunds, but going forward the oil authority will manage them in an integrated manner.
The legally mandated charges to be managed by the oil authority are ▲ oil import surcharges ▲ oil sales surcharges ▲ safety management charges, totaling about 3.8 trillion won per year on a three-year average from 2023 to 2025. These charges are a key funding source for the special accounts for energy and resources projects and are used across national energy policies, including overseas resource development, oil stockpiling, energy efficiency research and development (R&D), and energy welfare and safety.
The unification of collection and refund work for the legally mandated charges will also streamline administrative procedures. The refund payment period, which previously took seven days, will be shortened to five days, and supporting documents that were submitted in duplicate to each agency will need to be submitted only once.
Choi Chun-sik, chair of the Korea Petroleum Quality & Distribution Authority (K-Petro), said, "This consolidation of duties will deliver consumer-centered administrative services and mark an important turning point that enhances administrative efficiency and transparency," adding, "By making every effort to ensure the stable establishment of the integrated management system, we will actively carry out the government's policy tasks while contributing to securing the country's fiscal soundness."