TY - JOUR
T1 - Dynamic Changes in the Export Competitiveness of the South Korean Oil Refining Industry
AU - Baek, Chulwoo
AU - Yoo, Seung Hoon
N1 - Publisher Copyright:
© 2022 by the authors. Licensee MDPI, Basel, Switzerland.
PY - 2022/3/1
Y1 - 2022/3/1
N2 - South Korea relies on imports for most of its oil consumption, but its oil refining industry has grown into one of the most important national industries and ranks fifth in the world in terms of refining capacity. This study seeks to examine the export competitiveness of the South Korean oil refining industry over the period 2000–2019. To this end, an analysis of the trade specialization index, the revealed comparative advantage, and the 2 × 2 matrix of these two measurements is carried out. The results show that automobile gasoline, jet oil, and lubricant oil belonged to the ‘high competitiveness group’ for the entire period, whereas naphtha belonged to the ‘import-specialized group with comparative advantage’ for the entire period. Finally, aviation gasoline, bunker A oil, bunker B oil, and bunker C oil fluctuated between the ‘low competitiveness group’ and the ‘export-specialized group with comparative disadvantage’. To enhance the export competitiveness of the oil refining industry, this research suggests reorganizing the irrational tax structure and actively utilizing by-products generated during the refining process.
AB - South Korea relies on imports for most of its oil consumption, but its oil refining industry has grown into one of the most important national industries and ranks fifth in the world in terms of refining capacity. This study seeks to examine the export competitiveness of the South Korean oil refining industry over the period 2000–2019. To this end, an analysis of the trade specialization index, the revealed comparative advantage, and the 2 × 2 matrix of these two measurements is carried out. The results show that automobile gasoline, jet oil, and lubricant oil belonged to the ‘high competitiveness group’ for the entire period, whereas naphtha belonged to the ‘import-specialized group with comparative advantage’ for the entire period. Finally, aviation gasoline, bunker A oil, bunker B oil, and bunker C oil fluctuated between the ‘low competitiveness group’ and the ‘export-specialized group with comparative disadvantage’. To enhance the export competitiveness of the oil refining industry, this research suggests reorganizing the irrational tax structure and actively utilizing by-products generated during the refining process.
KW - Export competitiveness
KW - Oil refining industry
KW - Revealed comparative advantage
KW - South Korea
KW - Trade specialization index
UR - http://www.scopus.com/inward/record.url?scp=85126306571&partnerID=8YFLogxK
U2 - 10.3390/app12062789
DO - 10.3390/app12062789
M3 - Article
AN - SCOPUS:85126306571
SN - 2076-3417
VL - 12
JO - Applied Sciences (Switzerland)
JF - Applied Sciences (Switzerland)
IS - 6
M1 - 2789
ER -