Korea National Oil Corporation Establishes 'Carbon Sinks' to Practice Carbon Neutrality

About 50 Soccer Fields Worth Inside the Reserve, 60,000 Trees Planted

Korea National Oil Corporation has created a carbon absorption source covering approximately 36 hectares by planting Quercus acutissima, a tree species with excellent carbon absorption capacity, within its Geoje and Ulsan branches to practice carbon neutrality.

Korea National Oil Corporation Ulsan Branch planting Mongolian oak trees to create a carbon sink.

Last year, the Oil Corporation planted 20,000 Quercus acutissima trees and others over 10 hectares of mountainous area within the Geoje branch, and from November to December this year, about 42,000 Quercus acutissima trees were planted over 26 hectares of mountainous area within the Ulsan branch.

Quercus acutissima is known as the tree species with the highest annual carbon dioxide absorption per tree, absorbing approximately 14.1 kg of CO2 annually based on a 30-year growth period. Additionally, it has fire resistance, making it excellent for preventing the spread of wildfires. The Korea Forest Service is promoting the formation of fire-resistant forest belts using Quercus acutissima, so the Quercus acutissima carbon absorption source can achieve a twofold effect.

The carbon absorption sources established at the Oil Corporation’s Geoje and Ulsan branches cover an area equivalent to about 50 soccer fields and are expected to reduce approximately 370 tons of carbon dioxide annually after 10 years, which corresponds to the annual CO2 emissions of 154 internal combustion engine passenger cars. Moreover, since the carbon absorption capacity of Quercus acutissima improves as the trees mature, the carbon dioxide reduction effect is expected to increase over time.

Following the Geoje and Ulsan branches, the Oil Corporation is currently consulting with local governments to establish Quercus acutissima carbon absorption sources at the Yeosu and Gokseong branches next year, and plans to further expand carbon absorption sources by planting Quercus acutissima at other reserve branches in the future.

In addition to creating carbon absorption sources, the Oil Corporation is making various efforts to practice carbon neutrality. Last year, it successfully completed the ‘Net Zero Construction Project’ by introducing solar power facilities and high-efficiency transformers at the Donghae branch, achieving net zero carbon emissions.

Using the surplus revenue generated from this, the corporation is promoting the ‘KNOC Dream Sunlight Energy’ project, which donates solar power facilities to local communities, thereby creating conditions to spread participation in carbon neutrality policies within the community.

Kim Dong-seop, President of the Oil Corporation, stated, “By establishing Quercus acutissima carbon absorption sources, we will take the lead in practicing carbon neutrality to respond to climate change and continue to fulfill our roles and responsibilities as a public enterprise toward the environment and local communities.”