The government is implementing the following policies on imported petroleum products and importers in order to promote e-commerce of petroleum products and create competition in the petroleum market by expanding supplies. (Date of implementation: July 1st, 2012).
Refund of Charges Imposed on Imported Petroleum Products for e-Commerce
  • The charges imposed on imported petroleum products that are traded at the KRX’s e-commerce petroleum market during the period from July 1, 2015 to June 30, 2016, are refundable.
  • Reduction in Corporate Tax (Income Tax) on the Supplies for the trading at KRX’s Petroleum Market: 0.3% to be effective through December 31, 2016 (Up to 10% of the corporate tax or income tax)