Wood charcoal market in South Korea

Earlier Report Observations

The South Korean wood charcoal market experienced a sustained contraction from 2018 to 2021, with its volume falling from 144.5 thousand tons to 111.7 thousand tons. This decline was primarily driven by a prolonged slowdown in the domestic construction sector, which reduced demand for wood products, including charcoal. The onset of the COVID-19 pandemic in 2020 further pressured consumption, while rising industrial energy costs also weighed on demand.

Market volume rebounded strongly to 131.9 thousand tons in 2022 and continued to grow to 136.6 thousand tons in 2023. The recovery coincided with the implementation of the Framework Act on Carbon Neutrality, which set greenhouse gas reduction targets and promoted the use of forest biomass for energy. Simultaneously, new International Maritime Organization (IMO) regulations for charcoal transport, requiring UN-certified packaging and specific container space, introduced potential supply chain complexities. Government policies actively encouraging the use of unused by-products for energy further supported market dynamics during this period.

Production wood charcoal in South Korea

In kind, 2017-2020, t

Top producers of wood charcoal, 2017-2020

World map of production of wood charcoal, 2017-2020

In 2020, South Korea produced 8 000 tons of wood charcoal, showing little change from 2019. Production reached its lowest point in 2019 at 8 000 tons. Between 2017 and 2020, production decreased by 11.1%, which translates to an annualized decline of 3.9%. The largest decline occurred in 2019 at 11.1%, while the largest increase was recorded in 2018 at 0.0%.

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

In value, 2017-2020, K $ US

South Korea's wood charcoal production declined for the third consecutive year. In 2020, the output was valued at 10 931 thousand US dollars, marking a 17.9% decrease from the previous year. From 2017 to 2020, production fell by 23.1%, equivalent to an annualized rate of decline of 8.4%.

Annual dynamics of production in South Korea in value, 2017-2020, K $ US

Exports wood charcoal from South Korea

Exports in kind, K t

After two years of decline, South Korea's wood charcoal export volume increased slightly. In 2020, exports totaled 0.3 thousand tons, showing minimal change from 2019. Between 2017 and 2020, exports decreased by 25.7%, with an annualized decline of 9.4%. The lowest export volume was recorded in 2019 at 0.3 thousand tons, with the largest decline that year at 16.0%.

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

From 2017 to 2020, Japan, Australia, and China consistently led South Korea's wood charcoal exports in volume. Japan accounted for 44.3% of exports, Australia for 16.3%, and China for 11.2%. Together, these three countries represented 71.8% of total export flows.

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

South Korea's wood charcoal export value declined for the third consecutive year. In 2020, exports amounted to 0.4 million US dollars, a 17.5% decrease from 2019. Between 2017 and 2020, exports fell by 35.7%, equating to an annualized decline of 13.7%.

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

Over the period 2017–2020, Japan, Australia, and Malaysia were the main buyers of South Korean wood charcoal by value. Japan accounted for 46.7% of exports, Australia for 16.5%, and Malaysia for 10.0%. Collectively, these three markets made up 73.3% of total export value.

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 wood charcoal to South Korea

Imports in kind, K t

South Korea's wood charcoal imports declined for the second consecutive year. In 2020, imports totaled 110.0 thousand tons, a solid decrease of 13.0% year-over-year. From 2017 to 2020, imports decreased by 15.1%, with a compound annual growth rate (CAGR) of -5.3%. The highest import volume was recorded in 2018 at 135.8 thousand tons, with the largest increase that year at 4.8%.

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

Throughout 2017–2020, Indonesia, Vietnam, and China formed the core group of suppliers for South Korea's wood charcoal imports by volume. Indonesia accounted for 37.8% of imports, Vietnam for 22.7%, and China for 14.7%. Together, these three countries represented 75.3% 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

South Korea's wood charcoal imports declined for the second consecutive year in value terms. In 2020, imports reached 94.3 million US dollars, down 17.1% from the previous year. Between 2017 and 2020, imports decreased by 14.5%, with an annualized decline of 5.1%. The peak import value was recorded in 2018 at 125.4 million US dollars, with the largest increase that year at 13.7%.

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

From 2017 to 2020, Vietnam, Indonesia, and China were the principal sources of South Korea's wood charcoal imports by value. Vietnam accounted for 30.3% of imports, Indonesia for 24.5%, and China for 21.2%. Together, these three countries comprised 76.0% 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