Central & SE Asia / Australasia
Country profile: South Korea
| Location: | Eastern Asia, southern half of the Korean Peninsula bordering the Sea of Japan and the Yellow Sea |
| Climate: | temperate, with rainfall heavier in summer than winter |
| Terrain: | mostly hills and mountains; wide coastal plains in west and south |
| Size: | 98480 sq. km total (Land area: 98190 sq. km Water area: 290 sq.km) |
| Population: | 49,232,844 (July 2008 est.) |
| Languages: | Korean, English widely taught in junior high and high school |
| Government: | republic |
| Capital city: | Seoul |
| Legal system: | combines elements of continental European civil law systems, Anglo-American law, and Chinese classical thought; has not accepted compulsory ICJ jurisdiction |
| Currency: | South Korean won (KRW) |
| Licensing: |
Country profile
With limited domestic energy resources, South Korea is almost entirely dependent on imports to meet its energy consumption needs. South Korea is the fifth-largest net importer of oil in the world, and a significant importer of liquefied natural gas (LNG). Oil makes up the greatest share of South Korea's total energy consumption, though its share has been declining gradually in recent years. Oil supplied 50 percent of South Korea’s total energy consumption in 2004, compared with 65 percent in 1994. This decline in oil’s share in consumption reflects faster growth in natural gas and to a lesser extent coal over the period.
Coal is South Korea’s second-largest source, supplying 24 percent of primary energy consumption needs in 2004, followed by modest contributions from nuclear power (14 percent) and natural gas (12 percent). Hydropower and other renewable energy sources make up a small fraction of South Korea’s total energy consumption mix.
Energy production and consumption
| Oil | Gas | |
| Production: | 17,050 bbl/day (2005) | 1 billion cu m (2006) |
| Consumption: | 2 million bbl/day (2005) | 34 billion cu m (2006) |
| Exports: | 2,450 cu m (2006) | |
| Imports: | 2 million bbl/day (2004) | 35 billion cu m (2006) |
| Reserves: | ||
| Major fields: |
South Korea - recent news
| 18 Nov 24 |
South Korea: Vestas wins 50 MW order in South Korea Vestas has been awarded a 50 MW order in South Korea. Delivery is expected to begin in Q2 2025, with commissioning planned for first half of 2026. |
| 24 Sep 24 |
South Korea: TotalEnergies to supply 200,000 tons per year of LNG to HD Hyundai Chemical until 2033 In line with its strategy to grow its long-term liquefied natural gas (LNG) sales, TotalEnergies has announced the signing of a Heads of Agreement (HoA) with HD Hyundai Chemical for the delivery of 200,000 tons of LNG per year for 7 years starting from 2027. |
| 29 Aug 24 |
South Korea: Mainstream Renewable Power and Ocean Winds project awarded its EIA approval for 1.1 GW floating offshore wind farm in South Korea Mainstream Renewable Power, the pureplay global wind and solar company majority-owned by Aker Horizons, announced that the joint venture KF Wind, a 1,125 MW floating offshore wind project being developed off the coast of Ulsan, has secured the Environmental Impact Assessment (EIA) approval from the Ministry of Environment. |
| 14 Jun 24 |
South Korea: Vestas wins 90 MW order in South Korea Vestas has secured a 90 MW order to power an undisclosed wind project in South Korea. The order consists of 21 V136-4.2 MW wind turbines in 4.3 MW. The project will be the largest onshore wind project for Vestas in the country to date. |
| 21 May 24 |
South Korea: Seatrium clinches Favoured Customer Contract for LNG carrier repairs and upgrades from Hyundai LNG Shipping Seatrium has successfully clinched a Favoured Customer Contract (FCC) with Hyundai LNG Shipping, marking its first long-term strategic partnership agreement with a leading Korean Liquefied Natural Gas (LNG) company for the repairs and upgrades of its LNG carriers. The contract includes the refit of a series of LNG carriers over the next two years. |
South Korea - more news
Other countries in this region
- Australia,
- Bangladesh,
- Brunei,
- Cambodia,
- China,
- Fiji,
- Hong Kong,
- India,
- Indonesia,
- Japan,
- Laos,
- Malaysia,
- Maldives,
- Mongolia,
- Myanmar,
- Nepal,
- New Zealand,
- North Korea,
- Pakistan,
- Palau,
- Papua New Guinea,
- Philippines,
- Singapore,
- Sri Lanka,
- Taiwan,
- Thailand,
- Timor Leste,
- Vietnam
