U.S. energy imports more than doubled this year

Industry

U.S. energy imports more than doubled this year

Imports of energy products from the United States soared this year after Korea moved to diversify its energy sources, a trade organization said Wednesday.

In the first 11 months of this year, Korea imported $4 billion worth of five major energy products - oil, petrochemicals, liquefied natural gas, liquefied petroleum gas and coal - from the United States, more than double the $1.6 billion last year, according to data from the Korea International Trade Association.

The sharp increase comes from the government’s market diversification efforts. In the past, the country heavily relied on oil from the Middle East, which exposed it to volatility in the region.

YONHAP