South Korea Key Figures
- Population:
- 51.6 million
- GDP growth rate:
- 2.56 %/year
- Energy independence:
- 20.2%
Data of the last year available: 2022
- Total consumption/GDP:*
- 80.1 (2005=100)
- CO2 Emissions:
- 11.7 tCO2/capita
- Rate of T&D power losses:
- 3.51%
* at purchasing power parity
View all macro and energy indicators in the South Korea energy report
South Korea Related News
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South Korea Related Research
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Total Energy Consumption
Per capita consumption was around 5.6 toe/cap (including 11 MWh/cap of electricity) in 2022, which is 50% higher than the OECD average.
Total energy consumption slightly decreased in 2022 (287 Mtoe), after a large increase (+5.7%) in 2021 and a slight decrease (-1.4%) in 2020. Previously, it progressed by 1.3%/year over 2010-2019.
Interactive Chart South Korea Total Energy Consumption
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View the detailed fondamentals of the market at country level (graphs, tables, analysis) in the South Korea energy report
Crude Oil Production
Korea depends on imports to meet its oil demand. Net crude oil imports are still 4% lower than their 2019 levels but increased strongly in 2022 to 138 Mt (+5.7%).
Thanks to the increase in its refining capacities, Korea has been a net exporter of oil products since 1997. Net oil product exports reached 24 Mt in 2022, after falling by 37% in 2021 to 13 Mt, a level similar to that of 2010. In 2022, following a decision by IEA member countries, the country released 7.2 mbl of strategic crude oil reserves to cope with high oil prices.
Interactive Chart South Korea Crude Oil Production
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Oil Products Consumption
Oil consumption decreased by 1.9% in 2022 to 106 Mt, after a 6.5% increase in 2021 and a reduction of around 3%/year over 2018-2020.
Non-energy uses represent almost half of the oil demand (47% in 2022) and are followed by transport, which accounts for 31% of this consumption.
Graph: OIL CONSUMPTION (Mt)
Graph: OIL CONSUMPTION BREAKDOWN BY SECTOR (2022, %)
Interactive Chart South Korea Refined Oil Products Production
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Additionally, for more detailed information on refineries, you can request a sample of our Asia Refineries Dataset
Natural Gas Consumption
Gas demand slightly decreased in 2022 (59 bcm). It increased rapidly over 2015-2021 (5.5%/year). It contracted in 2014 and 2015 due to some nuclear restarts.
In 2022, 58% of the natural gas was used in power plants, 26% in buildings, and 14% in the industrial sector. Since 2015, buildings and industry have lost 4% and 5% points, respectively, mainly in favour of power plants (+9% points).
Graph: NATURAL GAS CONSUMPTION (bcm)
Interactive Chart South Korea Natural Gas Domestic Consumption
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Coal Consumption
Coal consumption remained stable in 2022 (114 Mt), after a sharp decrease between 2018 and 2021 (-17%). It had increased by around 2%/year over 2010-2018.
Power plants accounted for 68% of coal consumption in 2022 and industry for 21%.
Graph: COAL CONSUMPTION (Mt)
Graph: COAL CONSUMPTION BREAKDOWN BY SECTOR (2022, %)
Interactive Chart South Korea Coal and Lignite Domestic Consumption
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View the detailed consumption trends at country level (graphs, tables, analysis) in the South Korea energy report
Power Consumption
Electricity consumption increased by 2.7% in 2022 to 567 TWh. It had rebounded in 2021 by 4.6% after a decrease in 2019 and 2020 (-1.6%/year) and steady growth between 2010 and 2018 (2.2%/year).
Industry absorbs half of the electricity consumption, services 30%, and households 13%. The distribution has been similar since 2010.
Graph: ELECTRICITY CONSUMPTION (TWh)
Graph: ELECTRICITY CONSUMPTION BREAKDOWN BY SECTOR (2022, %)
Renewable in % Electricity Production
KEA supports and promotes renewable energies.
The 10th Basic Plan for Long-Term Electricity Demand and Supply 2023-2036 of MOTIE (2023) revised downwards its renewables target to 22% and 31% of the power mix in 2030 and 2036, respectively (against 40% in 2034 in the previous Basic Plan). MOTIE plans to add 40 GW of renewables by 2030, generating 134 TWh in 2030 (204 TWh in 2036).
Interactive Chart South Korea Share of Renewables in Electricity Production (incl hydro)
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Learn more about renewables in the Mini grid Africa & Asia markets for village electrification
CO2 Fuel Combustion/CO2 Emissions
In its updated NDC (2021), the country almost doubled its reduction target for total GHG emissions in 2030 to 40% (excl. LULUCF), compared to 2018 level, from 24.4% previously. In 2020, the country also committed to achieving carbon neutrality by 2050. GHG emissions decreased by around 7% between 2018 and 2021, i.e. less than a fifth of the 2030 target.
CO2 emissions from fuel combustion decreased by 2.8% in 2022 to 609 MtCO2. Since a peak in 2018, they have decreased by 8.7%.
Graph: CO2-ENERGY EMISSIONS (MtCO2)