The value added of coal mining in South Korea has experienced a significant decline from 2015's 155.22 Billion South Korean Won to 2023's 85.37 Billion. This trend includes a steep reduction in 2017 by 34.68% and a moderate increase in 2018 by 32.01%. From 2019 onwards, the annual growth was mixed, with a major drop in 2019 and a slight increase in 2021. The recent years have shown a steady decline: -4.39% in 2022 and -4.5% in 2023, translating to a CAGR of -3.64% over the last five years.
Future trends to watch for include a continuing downward trajectory, with a forecast indicating an average annual decline of 4.49% from 2024 to 2028. The projected total decrease over this period is 20.51%, suggesting sustained contraction in the sector moving forward.
