Coal consumption in South Korea has exhibited a declining trend from 2013 through 2023. In 2023, the coal consumption stood at 2.78 Exajoules. Over the last two years, the year-on-year variation was a reduction of 5.33% in 2022 and 3.34% in 2023. The average annual variation (CAGR) over the last five years was -5.19%. The forecast indicates a continued decline, with coal consumption expected to reach 2.41 Exajoules by 2028, reflecting a forecasted five-year CAGR of -2.19% and an overall decrease of 10.48% by the end of the forecast period.
Future trends to watch for include the acceleration of renewable energy adoption, governmental policies aimed at reducing carbon emissions, and technological advancements in energy efficiency. Additionally, the ongoing global shift towards more sustainable energy sources will likely further impact coal consumption patterns in South Korea.
