South Korea reports lower energy imports in Q2

Despite lower commodity prices.

South Korea's imports of energy, including crude oil, coal and natural gas, slid 9.9% from a year earlier to US$35.1 billion in the second quarter,.

The Korea Customs Service also said that in terms of volume, energy imports increased 4% to 72.4 million tons over the same period. It noted that falling energy imports came amid lower commodity prices.

Prices of coal imported from overseas tumbled 22%, with those for crude oil and natural gas falling over 10%.

The portion of energy to total imports fell to 28% in the second quarter from 30% a year earlier due to lower commodity prices.

Crude oil imports in the second quarter plunged 14% to US$23.4 billion year-on-year. Coal imports tumbled 15% to US$3.3 billion over the same period, but those for natural gas increased 8.5% to US$8.37 billion.

Also Read

Over 20 countries pledge no new coal power at COP29

Hydrogen to contribute 12% of global decarbonisation

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit