South Korea's coal production has been on a steady decline from 2013 to 2023, with a value of 0.014 Exajoules in 2023. The most pronounced drops occurred in 2017, 2018, and 2019, evidenced by significant year-on-year decreases of 12.12%, 17.24%, and 12.5% respectively. This trend continued into 2023 with another 12.5% reduction. The average annual decline over the last five years stands at 10.22% CAGR.
Looking ahead to the forecast years from 2024 to 2028, coal production is expected to decrease further with a forecasted CAGR of -7.09%, leading to a cumulative decline of 30.77% over these five years. Monitoring the global shift towards renewable energy and South Korea's policy changes will be crucial in understanding future trends in coal production.
