The market is dominated by foreign suppliers, as imports account for 97.6% of total market size in 2023. B2B drives market demand, with B2B spending representing 100% of total demand in 2023. South Korea has the fourth largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD140 billion in 2023. Korea National Oil Corp is the largest company in South Korea, generating 93.4% of the industry’s total production value in 2023. The industry is concentrated, with the top one company generating 93.4% of total production value in 2023. The total number of companies decreases in 2023, to 8 units. The costs of the industry increase by 0.4% in 2023, largely driven by rising labour costs. The industry’s profitability decreases and stands at 42.4% of production value in 2023, the 13th highest regionally. The industry’s exports share decreases in 2023 to 6.0% of total production output. With production value of USD18.1 million, South Korea accounts for 0.0% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in South Korea: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in South Korea: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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