South Korean petroleum exports reached a record high of $27.95 billion in the first half of 2022, according to several South Korean news sources.
Exports by SK Energy Co., GS Caltex Corp., S-Oil Corp. and Hyundai Oilbank Co. represent a 97.6 percent increase from the previous year, surpassing the previous record high of $27.7 billion in 2012, according to The Korea Economic Daily.
Australia was the top buyer of South Korean petroleum products, representing 16.2 percent of export value, followed by Singapore, the United States, the Philippines and China.
From January to June, the export volume rose 12.8 percent on-year to 220.9 million barrels, as export unit prices of petroleum products increased 75.3 percent to $126.6 per barrel.
