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South Korea Wood Market Report --
Summary of monthly statistical trends for September 2022

[Dec 5, 2022]

South Korea Wood Market Report

The cumulative statistical results of timber imports in September 2022 show that the year-on-year amount increased by 9.4%, 0.9 percentage points lower than the added value in September. As of September, the import volume of wood products had dropped by 1.2% compared with the same month last year. The import value increased by 9.4%. The import unit price increased by about 10.8%.

The accumulative import amount of logs decreased by 12.6% over the previous year, and timber decreased by 11.4%. The decreasing trend of the number was more obvious, with a cumulative decrease of 16.2% and 11.2% over the same month of the previous year respectively. As of September, the cumulative amount of plywood has decreased by 1.5% over the same month last year, and the cumulative number has decreased by 11.9%.

With the increase of veneer usage in domestic plywood companies, the import of veneer increased by 26.2%. The number of MDF decreased by 0.1% and the number of chips (particles) increased by 13.3%. The import of charcoal increased by 19.0% year on year.
As of September 2022, the import unit prices of most wood products have increased 4.0% year on year, including logs, plywood 11.8%, MDF 12.1%, PB 2.7% and chips (particles) 41.9%. Wood decreased by 0.2%, veneer decreased by 1.5%.

The import amount of construction woodworking countries is in the order of China > Vietnam > Indonesia > Finland > Austria > Japan.  As of September 2022, the cumulative amount is 674.27 million US dollars. The year-on-year import amount increased by 244.1%, the quantity increased by 310.3%, and the unit price decreased by 16.1%. Among the importing countries, China accounted for 35.0% of the total amount and 31.6% of the total amount.