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S. Korea's Energy Imports Jump 85% This Year

Written: 2022-03-28 08:52:42Updated: 2022-03-28 09:57:49

S. Korea's Energy Imports Jump 85% This Year

Photo : YONHAP News

South Korea's energy imports jumped over 85 percent this year due to soaring international prices.

According to the Korea Customs Service on Monday, the country's imports of three major energy sources – oil, natural gas and coal – came to 38-point-49 billion U.S. dollars from January to March 20, up 85-point-four percent from a year earlier.

Oil imports rose nearly 70 percent, while imports of gas and coal soared 92 percent and 150 percent on-year each during the cited period.

Energy imports jumped over 131 percent on-year in January, 53 percent in February and 75 percent in the first 20 days of March.

The increase is mostly attributed to soaring international prices stemming from a rapid rise in demand amid recovery of the global economy from the COVID-19 pandemic and supply disruptions deriving from Russia's invasion of Ukraine.

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