South Korea’s chemical industry generated KRW 180 trillion in sales revenue in 2022, but the real story sits behind who works in it and what they build, from 320,000 employees to 45,000 R&D personnel. Exports totaled USD 112.5 billion in 2022 while South Korea still relied on major feedstock imports, creating a tight balancing act between industrial strength and input pressure. This post pieces together the sector’s employment, production capacity, spending, and trade flows into one dataset you can compare across firms and products.
Key Takeaways
- The chemical industry employed 320,000 workers in 2022
- LG Chem had 24,000 employees in its chemical division as of 2022
- Lotte Chemical employed 12,500 people in 2022
- The South Korean chemical industry generated KRW 180 trillion in sales revenue in 2022
- Basic chemicals accounted for 45% of total chemical sales at KRW 81 trillion in 2022
- Specialty chemicals sales reached KRW 42 trillion in 2022, up 5.2% YoY
- In 2022, South Korea's petrochemical production reached 57.2 million tons, marking a 3.5% increase from 2021
- Ethylene production capacity in South Korea stood at 11.8 million tons per year as of 2023, with LG Chem contributing 2.95 million tons
- Propylene production in South Korea totaled 8.4 million tons in 2022, up 4.2% year-on-year
- South Korea's chemical R&D expenditure reached KRW 15.2 trillion in 2022, 8.4% of sales
- Patents filed in chemicals totaled 12,500 in 2022
- Government funding for chemical R&D was KRW 1.8 trillion in 2022
- South Korea's chemical exports totaled USD 112.5 billion in 2022, up 9.3% YoY
- Chemical imports reached USD 85.4 billion in 2022, resulting in a trade surplus of USD 27.1 billion
- China was the top destination for Korean chemical exports at USD 38.2 billion in 2022
In 2022, South Korea’s chemical industry employed 320,000 people and earned KRW 180 trillion, driven by strong exports.
Related reading
01 · Category
Employment and Companies24 stats
01
The chemical industry employed 320,000 workers in 2022
02
LG Chem had 24,000 employees in its chemical division as of 2022
03
Lotte Chemical employed 12,500 people in 2022
04
Hanwha Solutions chemical workforce was 8,200 in 2022
05
SK Innovation chemicals employed 7,800 staff in 2022
06
There were 15,200 chemical manufacturing companies in South Korea in 2022
07
Petrochemical sector had 250 major plants operating in 2022
08
Average salary in chemical industry was KRW 68 million per year in 2022
09
R&D personnel in chemicals numbered 45,000 in 2022
10
Female employment rate in chemicals was 28% in 2022
11
Hyosung Chemical employed 3,200 people in 2022
12
Kumho Petrochemical had 2,100 employees in 2022
13
S-Oil chemical division staff was 1,500 in 2022
14
GS Caltex employed 4,000 in petrochemicals in 2022
15
Chemical industry labor productivity was KRW 560 million per worker in 2022
16
SMEs in chemicals numbered 14,900 with 150,000 employees in 2022
17
Top 10 chemical firms accounted for 65% of industry employment in 2022
18
Vocational training programs trained 12,000 chemical workers in 2022
19
Injury rate in chemical plants was 0.45 per 100 workers in 2022
20
Foreign workers in chemicals totaled 15,000 in 2022
21
Engineering graduates entering chemicals: 8,500 in 2022
22
Chemical R&D investment by companies was KRW 12 trillion in 2022
23
Unionized workforce in chemicals was 180,000 members in 2022
24
Part-time employment in chemical sector: 25,000 in 2022
Interpretation
Employment and Companies Interpretation
Behind the impressive facade of 320,000 jobs and KRW 68 million salaries lies an industry of startling contrasts, where a handful of giants like LG Chem and Lotte Chemical dominate the workforce, over 14,000 SMEs scramble for talent, men overwhelmingly outnumber women, and the push for innovation with 45,000 R&D personnel coexists with a surprisingly low injury rate of 0.45.
02 · Category
Market and Sales25 stats
01
The South Korean chemical industry generated KRW 180 trillion in sales revenue in 2022
02
Basic chemicals accounted for 45% of total chemical sales at KRW 81 trillion in 2022
03
Specialty chemicals sales reached KRW 42 trillion in 2022, up 5.2% YoY
04
Petrochemicals contributed KRW 120 trillion to industry revenue in 2022
05
LG Chem's chemical sales were KRW 35.4 trillion in 2022
06
Lotte Chemical reported KRW 28.7 trillion in sales from chemicals in 2022
07
Hanwha Solutions chemical division revenue hit KRW 15.2 trillion in 2022
08
SK Innovation's chemical sales totaled KRW 12.8 trillion in 2022
09
Total chemical product sales volume was 92 million tons in 2022
10
Domestic chemical market size estimated at USD 150 billion in 2023
11
Polymer sales accounted for 35% of total chemical revenue in 2022
12
Fine chemicals segment grew to KRW 18 trillion in sales in 2022
13
Chemical exports contributed 12% to total national exports at USD 120 billion in 2022
14
Average chemical product price index rose 8.5% in 2022
15
Paint and ink sales reached KRW 9.5 trillion in 2022
16
Fertilizer sales volume was 5.2 million tons valued at KRW 4.1 trillion in 2022
17
Synthetic fiber sales hit KRW 22 trillion in 2022
18
Adhesives and sealants market was KRW 3.8 trillion in 2022
19
The chemical industry's market share in manufacturing was 8.2% in 2022
20
OLED materials sales by Korean firms reached KRW 5.6 trillion in 2022
21
Battery materials chemical sales surged to KRW 10.2 trillion in 2022
22
Plastic products sales totaled KRW 45 trillion in 2022
23
Rubber products revenue was KRW 28 trillion in 2022
24
Chemical wholesale trade volume grew 4.1% to KRW 250 trillion in 2022
25
E-commerce chemical sales increased 15% to KRW 2.5 trillion in 2022
Interpretation
Market and Sales Interpretation
While South Korea's chemical industry is built on a KRW 81 trillion mountain of basic chemicals, its future is being written in the dynamic, high-value ink of OLED screens, surging battery materials, and even a surprising KRW 2.5 trillion slice of e-commerce sales.
03 · Category
Production and Capacity30 stats
01
In 2022, South Korea's petrochemical production reached 57.2 million tons, marking a 3.5% increase from 2021
02
Ethylene production capacity in South Korea stood at 11.8 million tons per year as of 2023, with LG Chem contributing 2.95 million tons
03
Propylene production in South Korea totaled 8.4 million tons in 2022, up 4.2% year-on-year
04
South Korea's benzene production capacity was 7.2 million tons annually in 2023
05
Polyethylene (PE) production volume hit 4.9 million tons in 2022, a 2.8% rise
06
Polypropylene (PP) output reached 3.7 million tons in 2022
07
PVC production in South Korea was 1.8 million tons in 2022, increasing by 1.5%
08
ABS resin production totaled 1.2 million tons in 2022
09
Toluene production capacity stands at 2.1 million tons per year in 2023
10
Xylene isomers production reached 4.5 million tons in 2022
11
Methanol production capacity in South Korea is 1.5 million tons annually as of 2023
12
Ammonia production volume was 2.3 million tons in 2022
13
Urea output hit 1.9 million tons in 2022, up 2.1%
14
Synthetic rubber production totaled 1.1 million tons in 2022
15
Polystyrene (PS) production was 0.95 million tons in 2022
16
PET resin production capacity is 2.4 million tons per year in 2023
17
Acrylonitrile production reached 0.45 million tons in 2022
18
Adipic acid output was 0.32 million tons in 2022
19
Caprolactam production totaled 0.28 million tons in 2022
20
Phenol production capacity stands at 1.2 million tons annually
21
Acetone production was 0.65 million tons in 2022
22
Cumene output reached 1.1 million tons in 2022
23
Styrene monomer production totaled 2.8 million tons in 2022
24
Butadiene production capacity is 1.9 million tons per year in 2023
25
VCM (vinyl chloride monomer) production was 2.1 million tons in 2022
26
HDPE production volume hit 2.3 million tons in 2022
27
LLDPE output was 1.6 million tons in 2022
28
PP homopolymer production reached 2.1 million tons in 2022
29
Ethylene glycol (EG) production totaled 1.4 million tons in 2022
30
Paraxylene (PX) capacity stands at 3.2 million tons per year in 2023
Interpretation
Production and Capacity Interpretation
South Korea's chemical industry is not just cooking with gas, it's serving a staggering multi-course meal of polymers and precursors, with LG Chem alone dishing up a quarter of the national ethylene.
More related reading
04 · Category
R&D and Sustainability23 stats
01
South Korea's chemical R&D expenditure reached KRW 15.2 trillion in 2022, 8.4% of sales
02
Patents filed in chemicals totaled 12,500 in 2022
03
Government funding for chemical R&D was KRW 1.8 trillion in 2022
04
LG Chem invested KRW 3.5 trillion in chemical R&D in 2022
05
Lotte Chemical R&D spend was KRW 1.2 trillion in 2022
06
Bio-chemical R&D projects numbered 450 in 2022
07
Green chemistry initiatives funded at KRW 0.9 trillion in 2022
08
Carbon capture tech in chemicals: 15 pilot plants in 2022
09
Renewable chemical production capacity: 0.5 million tons targeted by 2025
10
CO2 emissions from chemicals: 120 million tons in 2022, down 2% YoY
11
Energy efficiency improvement: 15% since 2015 in chemical plants by 2022
12
Recycled plastic production: 2.1 million tons in 2022
13
Hydrogen production R&D investment: KRW 0.7 trillion in 2022
14
Battery material innovations: 2,500 patents filed in 2022
15
Sustainable polymer R&D budget: KRW 2.1 trillion in 2022
16
Water usage reduction: 20% in chemical industry by 2022 vs 2018
17
Zero-waste chemical plants: 45 operational in 2022
18
Bio-based chemical sales: USD 1.2 billion in 2022
19
R&D centers in chemicals: 320 facilities in 2022
20
International collaborations: 180 R&D projects in 2022
21
GHG reduction target: 40% by 2030, with 12% achieved by 2022
22
Nanomaterial chemical patents: 1,800 in 2022
23
Clean energy chemical tech investment: KRW 1.5 trillion in 2022
Interpretation
R&D and Sustainability Interpretation
It's clear South Korea's chemical industry is betting big on brains, pouring billions into R&D to turn everything from petrochemicals to plastics into a future where its massive CO2 footprint becomes a ghost town chased away by legions of patents and pilot plants.
05 · Category
Trade and Exports23 stats
01
South Korea's chemical exports totaled USD 112.5 billion in 2022, up 9.3% YoY
02
Chemical imports reached USD 85.4 billion in 2022, resulting in a trade surplus of USD 27.1 billion
03
China was the top destination for Korean chemical exports at USD 38.2 billion in 2022
04
Exports of petrochemicals to China hit USD 25.6 billion in 2022
05
US chemical exports from South Korea totaled USD 12.4 billion in 2022
06
EU imports of Korean chemicals were USD 11.8 billion in 2022
07
Japan received USD 8.7 billion in chemical exports from South Korea in 2022
08
Vietnam chemical imports from Korea reached USD 7.5 billion in 2022
09
India imported USD 4.2 billion worth of Korean chemicals in 2022
10
Polyethylene exports totaled 3.2 million tons valued at USD 5.1 billion in 2022
11
Polypropylene exports were 2.8 million tons at USD 4.3 billion in 2022
12
PVC exports hit 1.5 million tons worth USD 2.2 billion in 2022
13
ABS exports reached 0.9 million tons valued at USD 1.8 billion in 2022
14
Synthetic rubber exports totaled 0.7 million tons at USD 1.4 billion in 2022
15
PET exports were 1.2 million tons worth USD 1.6 billion in 2022
16
Chemical imports from China were USD 42.3 billion in 2022
17
Crude oil imports for chemical feedstock totaled 450 million barrels in 2022, valued at USD 35 billion
18
Naphtha imports reached 28 million tons at USD 22 billion in 2022
19
Ethylene imports were minimal at 0.1 million tons in 2022
20
Battery chemical exports surged 25% to USD 15 billion in 2022
21
OLED material exports hit USD 4.5 billion in 2022
22
Fertilizer exports totaled USD 1.2 billion in 2022
23
Paint exports reached USD 2.8 billion in 2022
Interpretation
Trade and Exports Interpretation
While clearly still addicted to imported Chinese chemicals and Gulf oil, South Korea’s industry is masterfully refining them into a sprawling plastic kingdom and high-tech chemical empire that dominates Asia and exports a $27 billion trade surplus back home.
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
Alexander Schmidt. (2026, February 13). South Korea Chemical Industry Statistics. Gitnux. https://gitnux.org/south-korea-chemical-industry-statistics
MLA
Alexander Schmidt. "South Korea Chemical Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/south-korea-chemical-industry-statistics.
Chicago
Alexander Schmidt. 2026. "South Korea Chemical Industry Statistics." Gitnux. https://gitnux.org/south-korea-chemical-industry-statistics.
Sources & references
20 datasets cited across this report · attribution is report-level