The South Korea Renewable Methanol Market was valued at USD 58.9 million in 2025 and is projected to reach USD 92.4 million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 7.2% during the forecast period (2025–2032). This growth is being driven by South Korea’s carbon neutrality targets by 2050, surging investments in green hydrogen infrastructure, and rising demand from chemical and maritime sectors for low-carbon feedstocks.

As South Korea’s chemical and energy industries shift toward sustainable operations and circular economy principles, the focus turns to the leading producers powering innovation, cost efficiencies, and cleaner production pathways. In this blog, we profile the Top 10 Companies in the South Korea Renewable Methanol Industry—a mix of chaebol giants, refiners, and green technology pioneers shaping the nation’s low-emission future.

---

🔟 1. Lotte Chemical Corporation

Headquarters: Seoul, South Korea
Key Offering: Waste-sourced bio-methanol, green methanol for MTBE and DME

Lotte Chemical is a major force in South Korea’s chemical sector, expanding into renewable methanol to decarbonize its vast production of plastics and derivatives. The company leverages its integrated facilities to produce green methanol from municipal solid waste and industrial by-products, serving domestic chemical manufacturers and fuel blenders effectively.

Sustainability Initiatives:

• Investing in gasification technology for waste-to-methanol

• Collaborations for carbon capture integration

• Targeting reduced emissions in chemical value chains

Download FREE Sample Report: South Korea Renewable Methanol Market – View in Detailed Research Report

---

9️⃣ 2. Doosan Fuel Cell Co., Ltd.

Headquarters: Changwon, South Korea
Key Offering: High-purity renewable methanol for fuel cells, power generation applications

Doosan Fuel Cell specializes in fuel cell technologies, positioning renewable methanol as a key hydrogen carrier for clean power. Their advancements focus on reforming methanol for stationary power, aligning with South Korea’s hydrogen economy roadmap and supporting distributed energy solutions.

Sustainability Initiatives:

• Developing methanol-fueled fuel cells for net-zero power

• Partnerships with waste management for feedstock

---

8️⃣ 3. Hyundai Oilbank Co., Ltd.

Headquarters: Daegu, South Korea
Key Offering: Bio-methanol from biomass, gasoline blending components

Hyundai Oilbank, a leading refiner, is transitioning refinery by-products into renewable methanol, enhancing biofuel blends. This supports national mandates for lower-emission transportation fuels while utilizing existing refining expertise for sustainable production.

Sustainability Initiatives:

• Biofuel blending targets aligned with government policies

• R&D in green hydrogen-methanol synthesis

---

7️⃣ 4. S-Oil Corporation

Headquarters: Seoul, South Korea
Key Offering: E-methanol from CO2 and green hydrogen, biodiesel additives

S-Oil operates advanced refineries and is pioneering e-methanol production in Ulsan, capitalizing on carbon capture from its plants. The company supplies renewable methanol for maritime bunkering and chemical feedstocks, bolstering South Korea’s decarbonization efforts.

Sustainability Initiatives:

• Plans for 10% renewable fuels in output by 2030

• Eco-industrial park developments for methanol

Download FREE Sample Report: South Korea Renewable Methanol Market – View in Detailed Research Report

---

6️⃣ 5. GS Caltex Corporation

Headquarters: Seoul, South Korea
Key Offering: Renewable methanol for DME and gasoline blending

GS Caltex integrates renewable methanol into its fuel portfolio, producing from municipal waste at Yeosu facilities. This supports clean transportation and chemical sectors, with a focus on scalable production amid rising demand.

Sustainability Initiatives:

• Certified renewable methanol supply to end-users

• Net-zero commitments across operations

---

5️⃣ 6. Hanwha Solutions/Chemical Corporation

Headquarters: Seoul, South Korea
Key Offering: Green methanol via catalytic synthesis, chemical derivatives

Hanwha Solutions leads in chemical innovation, producing renewable methanol from green hydrogen and CO2. Their Ulsan hub supplies low-carbon feedstocks, driving sustainable plastics and fuels in line with corporate ESG goals.

Sustainability Initiatives:

• Green hydrogen production capacity expansions

• Target of 20% green chemicals by 2030

---

4️⃣ 7. LG Chem

Headquarters: Seoul, South Korea
Key Offering: Bio-methanol for MTBE, advanced materials

LG Chem invests heavily in bio-methanol from waste sources, integrating it into battery and chemical production. Facilities in Yeosu and beyond support gasoline blending and power generation, advancing circular economy practices.

Sustainability Initiatives:

• Carbon-neutral chemical plants underway

• Strategic alliances for feedstock security

---

3️⃣ 8. SK Innovation Co., Ltd.

Headquarters: Seoul, South Korea
Key Offering: E-methanol, waste-sourced variants for fuels

SK Innovation dominates with green hydrogen expertise, producing renewable methanol in Gyeonggi Province. They supply maritime and chemical sectors, focusing on Power-to-X pathways for energy transition.

Sustainability Initiatives:

• Massive green hydrogen investments

• Collaborations for CO2 utilization

Download FREE Sample Report: South Korea Renewable Methanol Market – View in Detailed Research Report

---

2️⃣ 9. POSCO

Headquarters: Pohang, South Korea
Key Offering: Hydrogen-based renewable methanol, industrial applications

POSCO leverages steel by-products for methanol production, pioneering low-carbon processes. Their initiatives in Pohang position them as a key supplier for chemicals and fuels, supporting hydrogen economy growth.

Sustainability Initiatives:

• World’s first hydrogen-reduced steel with methanol links

• Expansion to 100,000-ton capacity

---

1️⃣ 10. Samsung Engineering Co., Ltd.

Headquarters: Seongnam, South Korea
Key Offering: Full-spectrum renewable methanol plants, EPC services

Samsung Engineering commissioned a 100,000-ton plant in 2023, leading engineering for bio- and e-methanol facilities. They enable chaebol-scale projects, from waste gasification to distribution, fueling South Korea’s green ambitions.

Sustainability Initiatives:

• End-to-end green fuel solutions

• Partnerships with global tech for scale-up

Read Full Report: South Korea Renewable Methanol Market – View in Detailed Research Report

---

🌍 Outlook: The Future of South Korea Renewable Methanol Is Greener and More Integrated

The South Korea renewable methanol market is evolving rapidly. While challenges like high costs persist, billions in investments target low-carbon feedstocks, advanced technologies, and supply chain optimizations.

📈 Key Trends Shaping the Market:

• Feedstock diversification to waste and green hydrogen

• Government mandates for biofuel blending by 2030

• Digital supply chains and emissions monitoring

• Chaebol alliances for carbon-neutral production

Read Full Report: South Korea Renewable Methanol Market – View in Detailed Research Report

The companies listed above are not only producing renewable methanol—they’re spearheading the green transition of South Korea’s chemical and energy industries.