Final energy consumption South Korea 2011-2022

Final energy consumption in South Korea in 2022 amounted to around 235 million tons of oil equivalent, an increase from the previous year. Energy consumption in the year prior was the highest it had ever been in the past decade, rising from approximately 205 million tons of oil equivalent in 2011.

Energy supply and fossil fuels

Fossil fuels, like petroleum, coal, and liquefied natural gas (LNG), made up more than 70 percent of South Korea’s primary energy supply in 2022. In comparison, renewable energy made up less than 10 percent of this supply. Despite consistent gains, inefficiencies within power storage and the high installation cost have kept renewable energy from taking up a larger share of energy consumption in the country.

Overseas energy dependence

South Korea is one of the largest importers of LNG globally. The country’s overseas energy dependence ratio has steadily declined since 2011 in an attempt to reduce its overreliance on imports for energy. However, as the country is naturally resource-poor, the ratio still stands high at over 90 percent.