South Korea’s jet fuel exports to the United States have reached their highest level in about four years, offering a glimmer of hope for the country’s struggling refining industry.

According to the Korea Petroleum Association on Wednesday, Korean refiners exported about 4.3 million barrels of jet fuel to the U.S. in May.

This is the first time monthly exports to the U.S. have surpassed 4 million barrels since August 2021, marking the highest volume in four years.

Jet fuel exports to the U.S. have been steadily increasing for the past three months.

In February, 2.78 million barrels were exported, followed by 3.04 million barrels in March, and a sharp rise to 3.82 million barrels in April.

This represents a 33 percent increase compared to the same period last year.

Of the total May exports, GS Caltex Corp. accounted for 1.19 million barrels, SK energy Co. for 940,000 barrels, and S-Oil Corp. with 930,000 barrels.

The surge in U.S.-bound jet fuel exports is primarily due to a series of shutdowns at local American refineries.

Recently, a fire halted operations at PBF Energy Inc.’s refinery in California, and Valero Energy Corp. is planning to shut down its Benicia refinery, reducing domestic production.

Industry experts expected that these disruptions will create mid- to long-term supply gaps in the U.S., providing further opportunities for Korean exporters.

With Valero planning a full closure of the refinery by 2026, the supply shortage may persist.

Korea is already the largest exporter of jet fuel to the U.S. and aims to solidify its market dominance.

As of 2023, Korea exported 3.06 million kilotons of jet fuel to the U.S., maintaining its No. 1 position, followed by Kuwait (900,000 kilotons) Canada (500,000 kilotons), Japan (410,000 kilotons), and India (360,000 kilotons).

“Korean refiners, with not only short-term price competitiveness but also stable supply capabilities, will continue to secure a competitive edge in the U.S. market,” said an industry official. “Jet fuel exports could continue rising through the second half of 2025.”

Jet fuel and other energy-related products are exempt from U.S. reciprocal tariffs.

While other sectors such as steel, aluminum, semiconductors, and batteries face increasing trade pressures between the two countries, energy products remain outside the scope of tariff disputes.

Jet fuel accounts for about 18 percent of Korea’s total petroleum exports as of 2024, making it one of the country’s key export items.

Building on this global competitiveness, the domestic industry plans to expand investment in sustainable aviation fuel and continue strengthening its leadership in the global jet fuel market.

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