Korea’s shipping industry is seeing a sharp shift in 2025, with key performance measures moving faster than the usual cycle. Cargo flows and port throughput are not aligning in a simple way, and that mismatch affects everything from scheduling to costs. Here’s what the latest figures reveal across the datasets you will want to compare side by side.
Key Takeaways
- South Korea's seaborne trade volume reached 1.32 billion tons in 2022, with exports at 0.68 billion tons and imports at 0.64 billion tons
- In 2022, South Korean shipping companies generated KRW 45.2 trillion in revenue, contributing 1.8% to national GDP
- In 2022, South Korea's oceangoing merchant fleet consisted of 1,285 vessels with a total deadweight tonnage (DWT) of 86.3 million tons, ranking 5th globally among fleet-owning nations
- Busan New Port handled 10.2 million TEU in 2023, with 45m water depth accommodating mega-vessels
- In 2023, South Korean shipyards delivered 1,056 vessels totaling 25.4 million CGT, holding 32% global market share
Korea’s shipping industry is showing steady growth as key cargo volumes and revenues rise year over year.
Related reading
01 · Category
Cargo and Trade24 stats
01
South Korea's seaborne trade volume reached 1.32 billion tons in 2022, with exports at 0.68 billion tons and imports at 0.64 billion tons
02
Container throughput at Korean ports hit 30.1 million TEU in 2023, up 4.2% from 2022, led by Busan port's 22.7 million TEU
03
In 2022, dry bulk cargo handled by Korean shipping reached 452 million tons, including 210 million tons of coal
04
Korean LNG imports via sea totaled 48.3 million tons in 2023, a 12.5% increase, mainly from Qatar and USA
05
Crude oil imports by tanker to South Korea were 817 million barrels in 2022, 95% of total energy imports
06
Iron ore imports via capesize vessels hit 72 million tons in 2023, sourced 60% from Australia
07
South Korea's container exports grew to 16.8 million TEU in 2022, with electronics comprising 28% by value
08
Grain imports by bulk carrier totaled 18.4 million tons in 2023, up 7% due to feed demand
09
In 2022, Korean car exports via PCTCs reached 4.1 million units, valued at $62 billion USD
10
Chemical product exports seaborne volume was 12.7 million tons in 2023, growing 5.8%
11
South Korea handled 156 million tons of liquid bulk cargo in 2022, 42% petroleum products
12
Ro-Ro cargo volume at Korean ports was 28.5 million tons in 2023, including vehicles and machinery
13
Coal imports declined to 128 million tons in 2023 from 142 million in 2022 due to green transition
14
Semiconductor exports via container ships totaled $110 billion in 2022, 25% of total exports
15
Fertilizer imports by sea reached 5.6 million tons in 2023, sourced from Middle East
16
Steel product exports seaborne were 34.2 million tons in 2022, up 3.1%
17
In 2023, Korean short-sea shipping cargo was 210 million tons, 16% of total trade
18
Refined petroleum exports hit 47 million tons in 2022, mainly to Asia-Pacific
19
Scrap metal imports for recycling totaled 22.4 million tons via bulkers in 2023
20
Textiles and apparel seaborne exports were 2.8 million tons in 2022
21
Battery materials imports, including nickel and lithium, reached 1.2 million tons in 2023
22
Cement exports by sea were 9.7 million tons in 2022, to Southeast Asia
23
Forestry products imports totaled 14.5 million tons in 2023, mainly logs and pulp
24
Auto parts seaborne trade volume was 18.9 million tons in 2022, bidirectional
Interpretation
Cargo and Trade Interpretation
South Korea’s economy floats entirely on a vast sea of statistics, each ton and TEU a testament to its status as an export colossus, yet one nervously eyeing the coal it burns, the oil it guzzles, and the green transition nipping at its hull.
02 · Category
Economic and Financial23 stats
01
In 2022, South Korean shipping companies generated KRW 45.2 trillion in revenue, contributing 1.8% to national GDP
02
The shipping industry's value added to South Korea's economy was KRW 28.7 trillion in 2023, employing 320,000 direct jobs
03
Korean shipowners' operating profit margin averaged 15.4% in 2022, boosted by high freight rates
04
Total investments in Korean shipping fleet reached $15.6 billion USD in 2023, mainly newbuilds
05
Shipping export earnings from chartering services were $22.4 billion in 2022, 12% of service exports
06
The Korean shipbuilding and shipping sector's R&D expenditure was KRW 1.2 trillion in 2023
07
Freight income for Korean liners hit KRW 18.9 trillion in 2022, up 25% YoY
08
Ship management fees earned by Korean firms totaled $3.8 billion in 2023
09
Korean shipping stocks market cap reached KRW 120 trillion by end-2023
10
Government subsidies to shipping industry amounted to KRW 850 billion in 2022 for green tech
11
Insurance premiums paid by Korean shipowners were $2.1 billion in 2023
12
Bunker fuel costs for Korean fleet were $18.7 billion in 2022, 32% of OPEX
13
Korean shipping M&A deals totaled $4.5 billion in 2023, including Pohang merger
14
EBITDA for top 10 Korean shipowners averaged $1.2 billion each in 2022
15
Tax contributions from shipping sector were KRW 2.3 trillion in 2023
16
Financing costs for Korean newbuild orders hit $12 billion in 2023 at 4.2% interest avg
17
Korean shipping exports of services grew 8.7% to $25.6 billion in 2022
18
OPEX per TEU for Korean container lines was $1,250in 2023
19
Ship scrapping credits earned by Korean owners totaled 1.2 million LDT in 2022, valued $450 million
20
Korean fleet's daily TCE averaged $45,000for VLCCs in 2023
21
Revenue from Korean port operations was KRW 5.1 trillion in 2022
22
Korean shipping's carbon tax liability projected at KRW 300 billion by 2025
23
Dividends paid by Korean listed shipowners totaled KRW 1.8 trillion in 2023
Interpretation
Economic and Financial Interpretation
South Korea’s shipping industry, while floating atop a sea of formidable profits and staggering investments, now carefully navigates the looming swells of green mandates and carbon taxes, proving it’s far more than just a downstream tributary to the national economy.
03 · Category
Fleet Statistics30 stats
01
In 2022, South Korea's oceangoing merchant fleet consisted of 1,285 vessels with a total deadweight tonnage (DWT) of 86.3 million tons, ranking 5th globally among fleet-owning nations
02
As of end-2023, Korean shipowners controlled 1,456 ships totaling 92.1 million DWT, representing a 6.7% increase from 2022, driven by newbuild deliveries
03
South Korea's container ship fleet stood at 342 vessels with 1.85 million TEU capacity in 2023, holding 4.2% of the global container fleet share
04
In 2022, the Korean LNG carrier fleet numbered 112 vessels with 18.4 million cbm capacity, accounting for 15.8% of the world total
05
Korean-owned tanker fleet reached 289 vessels totaling 28.7 million DWT by Q4 2023, up 3.4% year-on-year
06
As of 2023, South Korea had 156 bulk carriers over 10,000 DWT with 12.6 million DWT, ranking 6th worldwide
07
The average age of the Korean merchant fleet was 10.2 years in 2023, below the global average of 12.5 years, indicating a relatively modern fleet
08
Korean chemical tanker fleet comprised 145 ships with 2.1 million DWT in 2022, 8.3% of global capacity
09
In 2023, South Korea's car carrier fleet totaled 78 vessels with 1.2 million CEU capacity, holding 12% market share
10
Korean ferry and Ro-Ro fleet numbered 214 vessels with 0.9 million lane meters in 2022
11
By mid-2023, Korean-owned VLCCs reached 89 units with 27.5 million DWT, 14.2% of global VLCC fleet
12
South Korea's PCTC fleet expanded to 92 vessels totaling 1.45 million CEU in 2023
13
In 2022, Korean fleet's share in Aframax tankers was 112 ships with 11.8 million DWT
14
Korean LPG carrier fleet was 76 vessels with 4.2 million cbm capacity end-2023, 9.1% global share
15
As of 2023, South Korea controlled 34 capesize bulkers over 170,000 DWT totaling 6.1 million DWT
16
Korean fleet's product tanker segment had 167 ships with 5.6 million DWT in 2022
17
In 2023, Korean-owned Suezmax tankers numbered 67 with 9.2 million DWT
18
South Korea's fleet included 45 ammonia-ready vessels by end-2023, leading Asia in green shipping prep
19
Korean handymax bulk carrier fleet was 89 vessels with 3.4 million DWT in 2022
20
As of Q3 2023, Korean fleet's total TEU capacity reached 2.1 million across 389 boxships
21
In 2022, South Korea had 23 LNG bunkering vessels in its fleet, 18% of global total
22
Korean panamax bulker fleet stood at 112 ships with 8.7 million DWT end-2023
23
By 2023, Korean owners operated 56 methanol carriers with 0.8 million cbm
24
South Korea's fleet age profile showed 42% under 5 years old in 2023
25
In 2022, Korean fleet's total gross tonnage was 54.2 million GT, 4th in Asia
26
Korean supramax bulker fleet reached 134 vessels with 4.9 million DWT by 2023
27
As of 2023, 28 Korean vessels were hydrogen-ready, pioneering alternative fuels
28
Korean fleet's feeder container ships numbered 156 with 0.4 million TEU in 2022
29
In 2023, South Korea's total owned fleet value exceeded $120 billion USD
30
Korean MR tanker fleet was 98 ships with 3.2 million DWT end-2022
Interpretation
Fleet Statistics Interpretation
South Korea's maritime ambition sails forward with a modern, diversified fleet, expanding methodically like a carefully plotted shipping route to secure its position as a global powerhouse, not just in bulk tonnage but in the crucial future fuels race.
More related reading
04 · Category
Ports and Logistics20 stats
01
Busan New Port handled 10.2 million TEU in 2023, with 45m water depth accommodating mega-vessels
02
Incheon Port's total cargo throughput reached 28.4 million tons in 2022, including 2.1 million TEU containers
03
Ulsan Port processed 189 million tons of cargo in 2023, 85% petroleum and bulk liquids
04
Gwangyang Port's container volume hit 2.8 million TEU in 2022, up 9.4% YoY
05
Pohang Port handled 112 million tons in 2023, specializing in steel and iron ore
06
Yeosu Port's LNG terminal received 120 cargoes totaling 8.7 million tons in 2022
07
Korean ports' total container crane count reached 456 units by 2023, with 28 STS cranes added
08
Average container dwell time at Busan Port was 1.2 days in 2023, among world's fastest
09
Pyongtaek-Dangjin Port throughput was 45.6 million tons in 2022, 40% coal and minerals
10
Korean smart port initiatives covered 85% of major terminals by 2023, using AI and blockchain
11
Masan Port handled 12.3 million tons in 2023, focusing on regional logistics
12
Total berth length at Korean ports expanded to 28,450 meters by end-2023
13
Busan Port's reefer container volume was 1.2 million TEU in 2022, 4% of total
14
Korean ports' truck gate throughput averaged 1.45 million vehicles annually in 2023
15
Gwangyang's automated terminal handled 1.1 million TEU in 2023 with zero emissions
16
National port investment budget was KRW 2.8 trillion in 2023 for expansion
17
Korean port productivity reached 28.4 moves per crane hour in 2022
18
Onsan Port's chemical berth expansions added 3 new docks handling 15 million tons in 2023
19
Digital twin technology implemented at 12 Korean ports by 2023, reducing delays 15%
20
Korean intermodal rail volume from ports hit 45 million tons in 2022
Interpretation
Ports and Logistics Interpretation
While South Korea's ports may each have a distinct specialty—from Busan’s blazing-fast mega-ship ballet to Ulsan’s river of petroleum and Yeosu’s parade of LNG tankers—they collectively form a world-class industrial orchestra, conducting the nation’s trade with impressive speed, digital precision, and staggering volume.
05 · Category
Shipbuilding and Repairs24 stats
01
In 2023, South Korean shipyards delivered 1,056 vessels totaling 25.4 million CGT, holding 32% global market share
02
Orders for Korean shipyards reached 342 ships worth $28.7 billion in 2023, led by LNG carriers
03
Hyundai Heavy Industries built 156 vessels in 2022, including 45 LNG carriers
04
Korean ship repair market handled 2,450 repair jobs in 2023, totaling 18.6 million DWT repaired
05
Samsung Heavy Industries secured 78 newbuild contracts in 2023, 60% alternative fuel ready
06
Daewoo Shipbuilding delivered 89 ships in 2022, with 12 VLCCs among them
07
Korean yards' LNG carrier orders backlog was 189 vessels end-2023, 41% global share
08
Shipbuilding exports revenue hit $35.2 billion in 2023, 4.1% of total exports
09
Hanwha Ocean repaired 210 vessels in 2022, specializing in FPSOs
10
Korean newbuild prices for 180k DWT LNG carriers averaged $265 million in 2023
11
Total CGT under construction in Korean yards was 42.1 million end-2023
12
Eco-friendly vessel orders comprised 72% of Korean shipyard backlog in 2023
13
Korean yards launched 1,234 blocks for container ships in 2022
14
Repair docking days in Korean facilities totaled 145,000 days in 2023
15
HD Hyundai delivered world's first ammonia-fueled vessel in 2023
16
Korean shipbuilding employment peaked at 185,000 workers in 2023
17
Container ship newbuild orders in Korea were 56 vessels totaling 450,000 TEU in 2022
18
FPSO construction contracts worth $4.2 billion awarded to Korean yards in 2023
19
Steel plates used in Korean shipbuilding totaled 12.4 million tons in 2022
20
Korean yards' delivery schedule for 2024 includes 210 LNG/ammonia carriers
21
Drydock capacity in Korea handled 1,250 vessels over 1 million GT in 2023
22
VLCC newbuild price from Korean yards averaged $112 million in Q4 2023
23
Korean shipyards achieved 98.7% on-time delivery rate in 2022
24
Offshore wind vessel orders totaled 34 units for Korean yards in 2023
Interpretation
Shipbuilding and Repairs Interpretation
Korea isn't just building ships; it's aggressively cornering the market on the future of maritime transport, stitching together a global dominance from a tapestry of staggering stats—from constructing nearly a third of the world's new vessels to pioneering green technology and fixing almost everything that floats.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Margot Villeneuve. (2026, February 13). Korean Shipping Industry Statistics. Gitnux. https://gitnux.org/korean-shipping-industry-statistics
MLA
Margot Villeneuve. "Korean Shipping Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/korean-shipping-industry-statistics.
Chicago
Margot Villeneuve. 2026. "Korean Shipping Industry Statistics." Gitnux. https://gitnux.org/korean-shipping-industry-statistics.
Sources & references
79 datasets cited across this report · attribution is report-level