How much steel does South Korea produce and export?
South Korea is the nullth largest producer of steel: 60 million tonnes in 2025, 3.2% of the world's 1.9 billion tonnes (USGS MCS). It is the 3rd largest exporter by value: $6.2 billion in 2024, 9% of world exports of hot-rolled steel coil (HS 7208) (CEPII BACI). Its biggest customer is India, which takes 16% of its steel exports by value.
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South Korea's steel production
| World rank | Production (tonnes) | Share of world | Ten-year growth | Year |
|---|---|---|---|---|
| 60 million tonnes | 3.2% | — | 2025 |
USGS Mineral Commodity Summaries, MCS 2026.
South Korea's steel exports
| World rank | Export value | Share of world exports | Quantity (tonnes) | Average value per tonne | Year |
|---|---|---|---|---|---|
| 3 | $6.2 billion | 9% | 8.8 million t | $707 | 2024 |
CEPII BACI international trade database (HS22, V202601), HS 7208 (Flat-rolled iron or non-alloy steel, hot-rolled, not clad).
Where South Korea's steel goes
| Destination | Value | Share of South Korea's exports |
|---|---|---|
| India | $987M | 16% |
| Japan | $871M | 14% |
| United States | $557M | 8.9% |
| Vietnam | $475M | 7.6% |
| China | $345M | 5.5% |
South Korea as a buyer of steel
South Korea imported $3.1 billion of hot-rolled steel coil (HS 7208) in 2024, 4.4% of world imports, ranked #3. Of its $3.1 billion of steel imports in 2024, 50% came from Japan and 47% from China, among 31 suppliers. Largest sources: Japan (50%), China (47%), Egypt (1.5%), Other Asia, nes (0.8%), France (0.2%).
Cite as: Commodity Origins, "South Korea steel: production, exports and prices", https://commodityorigins.com/countries/KOR/steel/ (CC BY 4.0). Rankings count only countries reporting to the sources named; this page is shown only for top-five producers or exporters with at least 3% of the world total. Report an issue with this page.