Fertilizer Industry In South Korea

  • Total consumption of fertilizers in South Korea around 1.2 million MT
  • Major producers are Namhae with NPK capacity of 1.360 mill MT; Pungnong 350 KT: KG 300 KT; Farm Hannong 580 KT; and Korean Caprolactam is making around 600 KT of caprolactam AS of which 400 KT for export
  • Total South Korean NPK exports around 700 KT of which Namhae exports NPK to various countries of which to Thailand around 300,000 MT of NP 16-20-0
  • Urea imports are around 800,000 MT of which 80% comes from China and the remaining on contract from AG producers like Muntajat of Qatar.
  • 95% of fertilizers consumed in South Korea is distributed by the government co-operative which holds a tender around the 20th of December every year for the entire quantity to be supplied for the following year at fixed prices
  • There is a major trend in South Korea of the usage of slow release fertilizers