The South Korean government has eliminated tariffs on naphtha and crude oil imports to support the local petrochemical industry. Beginning immediately, tariffs on all naphtha imports will be lowered from 0.5% to zero through the end of the year. Tariffs on crude oil used to produce naphtha will also be lowered to zero for the amount not exceeding 100-million bbls over the period. South Korea has been importing naphtha, or purchased crude oil to produce it. But the prolonged war between Russia and Ukraine has disrupted imports from Russia, leading to price burdens for companies.