As shortages of lubricants including engine oil persist, the South Korean government is launching an intensive inspection of the distribution market.
The Ministry of Trade, Industry and Energy (MOTIE) said it will conduct a cross-ministry joint inspection of lubricant manufacturers and distributors starting Wednesday, in coordination with local governments and the Korea Petroleum Quality & Distribution Authority. The ministry said shipments of base oil, the raw material for lubricants, were confirmed to be at or above year-earlier levels last month, and it plans to examine whether actual supply disruptions exist and whether market manipulation is occurring.
Lubricants are essential products used in maintenance of automobiles, ships, and various manufacturing equipment. As a core petroleum product underpinning daily life and production sites, supply disruptions could dampen vitality across the broader national economy.
The government believes the recent shortage likely stems not from insufficient supply but from problems in the distribution process. The inspection team plans to closely examine distribution stages for major lubricant products such as engine oil and crack down on practices that undermine market order, including hoarding.
"We will strictly respond to any illegal acts that deliberately cause disruptions in lubricant supply, which is directly linked to public welfare and industry," Minister of Trade, Industry and Energy Kim Jeong-gwan said. "We will continue to push forward with cross-ministry joint inspections so that the public can purchase lubricants with confidence."