[Alpha Biz= Reporter Kim Jisun] HD Hyundai Oilbank has become the first South Korean company to export Sustainable Aviation Fuel (SAF) to Japan. SAF is an eco-friendly aviation fuel produced using bio-based materials such as waste cooking oil. This development comes as countries worldwide are tightening environmental regulations on airlines, opening new market opportunities for the refining industry.
On the 16th, HD Hyundai Oilbank announced that it would export SAF to the Japanese trading company Marubeni. The SAF supplied to Marubeni will be used by All Nippon Airways (ANA). This marks the first time a South Korean company has exported SAF and the first time Japan has imported it.
HD Hyundai Oilbank produced the SAF using a "coprocessing" method, which involves mixing petroleum-based materials with bio-based materials like waste cooking oil in existing refining facilities. Last month, the company received quality certifications for bio-aviation fuel from the American Society for Testing and Materials (ASTM) and the Korea Petroleum Quality & Distribution Authority, completing its preparations for export.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
