Signal KEEI projects Korea's final energy demand to fall 0.4 percent a year to 206.3 Mtoe in 2030

Summary

Final energy demand in Korea is projected to decline by 0.4 percent a year from 2025 to 2030, reaching 206.3 million tonnes of oil equivalent, mainly because of weakness in industry. Industrial demand falls sharply in 2026 as petrochemical restructuring takes hold and then recovers only gradually, averaging a 0.9 percent annual decline. Transport demand stagnates and slips 0.3 percent a year. Building demand grows 0.8 percent a year, though frequent abnormal temperatures are expected to make it more volatile. By 2030 industry's share of final consumption falls to 59.6 percent, while buildings account for 24.1 percent and transport for 16.2 percent.