Volume of steel demand South Korea 2010-2023

In 2023, the demand for steel in South Korea was approximately 80 million metric tons. This was an increase from the previous year. Figures have remained relatively stable in recent years.

How much steel is exported from South Korea?

South Korea’s exports of steel were higher than the amount of steel imported to the nation by a fair margin. Steel produced in South Korea was exported to various countries, with China being the major market for South Korean steel products. China was also a leading country of origin for steel imports to South Korea, with Japan being the only country that South Korea exported more steel to. 

Where is steel used the most?

Steel produced from steel mills were mainly used for activities related to building and infrastructure. This was reflected in the amount of construction permits issued for steel reinforced buildings in South Korea, which were the majority of all issued construction permits in the country. Steel is also an important component for other industries, such as the shipbuilding industry in South Korea.