Korea National Oil Corporation Obtains Business Continuity Management System (ISO 22301) Certification

Recognized for Rapid Recovery Capability in Disaster and Crisis Situations

[Asia Economy Yeongnam Reporting Headquarters, Reporter Kim Yong-woo] Korea National Oil Corporation (President Yang Soo-young) announced on the 31st that it has obtained the international standard (ISO 22301) certification for its Business Continuity Management System.

The Business Continuity Management System (ISO 22301) refers to an operational framework that restores core business functions in the shortest possible time in the event of risks such as disasters, accidents, or disruptions, thereby maintaining business continuity.

The Oil Corporation has been verified to perform uninterrupted oil (crude oil, products) stockpiling and supply at its headquarters and nine storage bases through rapid recovery even in crisis situations such as disasters, thereby further enhancing its oil supply crisis response capability.

To obtain certification for oil stockpiling and supply, the Oil Corporation has been establishing a functional continuity plan since December 2018, targeting nine storage bases and eight related departments at headquarters. It has been steadily preparing for certification by inspecting all possible risks that may occur in aboveground tanks and underground caverns in case of disasters.

A representative of the Oil Corporation stated, “We will ensure that the Business Continuity Management System becomes more ingrained in the organization through continuous revision, supplementation, and education of the ISO 22301 procedures.”

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