The import of tankers to South Korea has experienced significant fluctuations over the past decade. In 2023, the value stood at $411.03 million, reflecting a slight increase of 0.99% from the previous year. Evaluating the last two years, the year-on-year variation shows a cumulative growth of 7.41%. Over the past five years, the compound annual growth rate (CAGR) indicates a modest annual decrease of 0.26%. From 2024 onwards, forecasts predict a steady yet slow growth, with a five-year CAGR projected at 0.8% and an overall growth rate of 4.08% by 2028.

Future trends to watch for include:

Global economic conditions influencing the shipping industry.
Technological advancements and their impact on tanker specifications and demand.
Changes in South Korea's domestic shipping policies and import regulations.