Thread Content
According to official data released on February 1 by South Korea’s Ministry of Trade, Industry and Energy, South Korea’s exports of petrochemical products declined by 1.5% on a year-on-year basis in January, reaching 35.2 billion dollars. Meanwhile, semiconductor exports remained strong during the same period and were not affected by this decline. South Korea’s Ministry of Trade, Industry and Energy stated that global overcapacity is the main reason behind the decline in export prices for petrochemical products in the country, which in turn affects export volumes. As a major exporter of aromatic products worldwide, South Korea’s benzene, toluene, styrene and other similar products hold an important share in the international market. In January, South Korea’s overall foreign trade performance was strong. Driven by strong semiconductor exports, the country’s total exports in January rose by 33.9% on a year-on-year basis, reaching 658.5 billion dollars; imports increased by 11.7% year-on-year to 571.1 billion dollars, resulting in a trade surplus of 87.4 billion dollars. However, this did not drive the development of foreign trade in the petrochemical industry. The South Korean petrochemical industry is currently in a phase of restructuring supported by the government. Affected by continuously declining profit margins and oversupply, South Korean petrochemical companies reached a consensus on capacity reduction in August 2025, and industry restructuring is progressing steadily.