Opening of KRX Petroleum Market
In line with the government policy to promote competition in the petroleum market and thus to establish fair and orderly trading in the market, the KRX launched the web-based e-Commerce petroleum market in March 2012. background Image

The KRX petroleum market is an Internet-based open market where refiners and gas stations can trade petroleum products easily. The prices in the KRX petroleum market are formed in a fair and transparent manner through competition among market participants, just like stocks and derivatives.
Structure of KRX e-Commerce Petroleum Market
Mechanism of KRX e-Commerce
Expected Benefits of KRX e-Commerce
Benefits from Using KRX e-Commerce
Users Benefits
For sellers
  • Tax deduction of 0.3% of the selling amount via e-commerce (Article 104-25 of the Restriction of Special Taxation Act)
  • Stable supply for a large number of buyers (Reduced selling & administrative expenses)
  • Improvement in liquidity due to cash settlement
For buyers
  • A buyer can buy whatever quantity he/she wants at a lower price through price competition.
  • A buyer can secure a stable amount of quantity due to the increased certainty of delivery.
    (When a product is not duly delivered, the buyer receives the good faith money made by the seller.)