South Korea's voluntary blending of B2 biodiesel to become mandatory in 2012

In South Korea, Reuters reports that the Government announced on 12/29 that the current voluntary blending of B2 biodiesel would become mandatory as of 2012.  A statement released by the Ministry of Knowledge Economy noted, “We are introducing a required bio-diesel mix rate system from 2012, as tax benefits on bio-diesel will expire by the end of 2011… this is expected to help in the recycling of waste resources and raise the country’s energy independence.”  South Korea plans on using animal biodiesel and the development of overseas farm in the near term, and researching the feasibility and availability of feedstocks such as palm oil, rapeseed, soy oil and waste cooking oil.

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