SEOUL, Oct 18 (Reuters) - South Korea said on Wednesday that its plan to ease blending restrictions at oil storage terminals will come into effect on Thursday, as the government continues its push to boost international oil trading in the country.
The world's fifth largest oil importer in April approved legislation to ease restrictions on companies blending refined fuels at oil terminals, but the exact start date was not released at that point.
The energy ministry said in a statement that the move would help expand the country's oil trading business and transform its Yeosu and Ulsan ports into a Northeast Asia trading hub.
At present, South Korea has 24 million barrels of storage capacity at its tank terminals in Ulsan and another 8.2 million barrels in Yeosu, according to Korea National Oil Corp's website.
(Reporting by Jane Chung; Editing by Joseph Radford)