Energy imports increase 14.6%

Korea’s energy imports posted solid gains during the first half of this year as costs of purchasing crude oil and natural gas jumped, customs data showed Thursday.

South Korea imported $81.5 billion worth of crude oil, natural gas and coal during the January-June period, up 14.6 percent in value from a year earlier, according to the data by the Korea Customs Service.

The increase is attributed to a spike in average import prices of crude oil and natural gas, which jumped 11.3 percent and 26.2 percent over the cited period.

In terms of value, crude oil imports grew 13.3 percent on-year, while natural gas and coal imports rose 26.1 percent and 2.8 percent each.

The amount of energy imports inched up over the cited period.

The country imported 147.5 million tons of energy products, up 0.4 percent from 146.9 million tons in the first half of 2011, the report showed.

Of the total, coal imports made up 42.7 percent, followed by crude oil and natural gas with 42.4 percent and 14.9 percent, respectively, according to the report. (Yonhapa News)