The market is dominated by foreign suppliers, as imports account for 98.2% of total market size in 2022. B2B drives market demand, with B2B spending representing 98.4% of total demand in 2022. South Korea has the fourth largest market size for extraction of crude petroleum and natural gas regionally, with demand reaching USD156 billion in 2022. Korea National Oil Corp is the largest company in South Korea, generating 93.4% of the industry’s total production value in 2022. The industry is concentrated, with the top one company generating 93.4% of total production value in 2022. The total number of companies decreases in 2022, to 9 units. The costs of the industry decrease by 22% in 2022, largely driven by declining B2B costs. The industry’s profitability increases and stands at 42.7% of production value in 2022, the 13th highest regionally. The industry’s exports share decreases in 2022 to 7.6% of total production output. With production value of USD18.1 million, South Korea accounts for 0.0% of the Asia Pacific total in 2022.
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This Euromonitor industrial report provides unique information on Extraction of Crude Petroleum and Natural Gas in South Korea: ISIC 11. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Extraction of Crude Petroleum and Natural Gas in South Korea: ISIC 11 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
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