Petroleum products lead exports in South Korea

Petroleum products rose to become South Korea’s largest export product by category during the first quarter, representing 10.1% of total exports, valued at US$134.95 billion, due mainly to higher prices of crude oil and petroleum products. The country exported a total of US$13.67 billion worth of refined oil products, a 27.8% increase from a year earlier. Automobiles came in second, accounting for 9.1% of total exports, while semiconductors came in third, at 8.9%. In 2011, petroleum products only ranked second. (April 8, 2012)