The turnover in South Korea's refined petroleum products sector displayed significant fluctuations between 2013 and 2023. The highest turnover was noted in 2017, followed by a dramatic drop in 2018. From 2019 onwards, turnover shows a steady decline. By 2023, the turnover stood at 2.3186 trillion South Korean Wons, representing a marginal year-on-year decrease of 0.21%. The Compound Annual Growth Rate (CAGR) over the last five years, leading to 2023, was 1.51%.

Future trends to watch for include:

The forecasted turnover for 2024 is 2.3132 trillion, suggesting continued minimal declines.
By 2028, the turnover is anticipated to further decrease to 2.2928 trillion, indicating a negative CAGR of 0.18%.
Factors influencing this trend could include market saturation, shifts to renewable energy, and regulatory changes impacting the petroleum industry.