Salt, pure NaCl and sea water market in South Korea

Earlier Report Observations

The South Korean salt market experienced a significant contraction from 5.1 million tons in 2018 to 4.3 million tons in 2019, followed by stabilization around 4.3 million tons in 2020. During this period, the market was characterized by steady consumer demand for solar salt and sustained industrial usage, particularly for imported grades from China and Australia, though overall consumption volume declined.

Market volume rebounded to nearly 5.0 million tons in 2021, driven by the emergence of new health-oriented product segments. Growing consumer health awareness spurred demand for low-sodium sea salt and organic salt substitutes, introducing new consumption drivers. The market then stabilized at just under 5.0 million tons in 2022, supported by the continued growth of these niches.

In the following years, salt imports continued their upward trend, reaching 4.9 million tons by 2024. The industrial salt segment saw notable expansion, including a 40% increase in solar salt production in 2023. New partnerships, such as Sojitz Corporation's joint venture to build a new solar salt facility, and increased exports of high-grade industrial salt for water treatment and pharmaceuticals contributed to market activity.

Production salt, pure NaCl and sea water in South Korea

In kind, 2017-2020, K t

Top producers of salt, pure NaCl and sea water, 2017-2020

World map of production of salt, pure NaCl and sea water, 2017-2020

South Korea's production of salt, pure NaCl, and seawater increased for the second year in a row. In 2020, the country produced 323.5 K t, marking a 4.7% rise from the previous year. Over the 2017-2020 period, production grew by 4.7%, with a compound annual growth rate of 1.6%. The lowest production level was in 2018 at 282.6 K t, which saw the largest decline of 8.5%. In contrast, 2019 recorded the biggest increase at 9.3%.

Annual dynamics of production in South Korea in kind, 2017-2020, K t

Exports salt, pure NaCl and sea water from South Korea

Exports in kind, K t

South Korea's exports of salt, pure NaCl, and seawater declined for the second consecutive year. In 2020, exports totaled 29 K t, a 32.7% drop compared to the previous year. From 2017 to 2020, exports decreased by 43%, with a compound annual growth rate of -17.1%. The peak export volume was in 2018 at 63 K t, which also saw the largest increase of 25.1%.

Annual dynamics of product's exports from South Korea in kind, 2017-2020, K t

From 2017 to 2020, Japan remained the primary market for South Korea's exports in kind, accounting for 75.2% of total flows. The remaining volume was distributed among various other destinations.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from South Korea in kind, 2017-2020

Exports in value, M $ US

After two years of growth, South Korea's cross-border shipments of salt, pure NaCl, and seawater declined. In 2020, exports amounted to 10.6 M $ US, a 2.4% decrease from the previous year. Over the 2017-2020 period, exports increased by 13%, with a compound annual growth rate of 4.1%. The highest value was recorded in 2019 at 10.8 M $ US, while 2018 saw the largest increase of 8.8%.

Annual dynamics of product's exports from South Korea in value, 2017-2020, M $ US

Throughout 2017-2020, the United States, China, and Japan were the key destinations for South Korea's exports in value terms, with shares of 30.6%, 17.0%, and 15.3%, respectively. Together, they accounted for 62.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from South Korea in value, 2017-2020

Imports salt, pure NaCl and sea water to South Korea

Imports in kind, K t

South Korea's imports of salt, pure NaCl, and seawater fell for the second year in a row. In 2020, imports reached 3 985 K t, a slight decrease of 2.3% from the year before. The highest import volume was in 2018 at 4 865 K t, which also experienced the largest increase of 21.2%. In 2019, imports saw the largest decline of 16.2%.

Annual dynamics of product's imports to South Korea in kind, 2017-2020, K t

From 2017 to 2020, Australia, India, and Mexico were consistently the main sources for South Korea's imports in kind, with shares of 40.7%, 38.3%, and 11.7%, respectively. Combined, they made up 90.6% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to South Korea in kind, 2017-2020

Imports in value, M $ US

Following a two-year rise, South Korea's foreign supplies of salt, pure NaCl, and seawater declined. In 2020, import value stood at 165.1 M $ US, a modest drop of 1.0% from the previous year. Over the 2017-2020 period, imports increased by 24.7%, with a compound annual growth rate of 7.6%. The peak value was in 2019 at 166.8 M $ US, while 2018 recorded the largest increase of 22.7%.

Annual dynamics of product's imports to South Korea in value, 2017-2020, M $ US

In 2017-2020, Australia, India, and China formed the primary group of destinations for South Korea's imports in value terms, with shares of 35.3%, 31.3%, and 17.0%, respectively. Together, they accounted for 83.6% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to South Korea in value, 2017-2020