South Korea coal imports from Russia surged in January-February 2026, highlighting the country’s growing role as a key market for Russian suppliers.
In January–February 2026, coal exports from Russia to South Korea reached 3.9 mio t (+1.9 mio t or +95% vs. Jan-Feb 2025).
South Korea’s total coal imports in Jan–Feb 2026 surged to 20.7 mio t (+2.5 mio t or +13.7% vs. Jan–Feb 2025).
Because of the energy crisis in the Middle East, South Korea is lifting the 80% cap on coal-fired power plant capacity utilization and increasing nuclear power plant capacity utilization from the current 65–70% to 80%. With rising prices and supply risks for imported LNG and oil, coal and nuclear power generation are strengthening their positions in the country’s energy mix.
South Korean coal imports (Jan–Feb 2026):
- Australia: 6.2 mio t (+1.2 mio t or +24.0% y-o-y);
- Indonesia: 5.3 mio t (flat y-o-y);
- Russia: 3.9 mio t (+1.9 mio t or +95.0% y-o-y);
- South Africa: 1.8 mio t (+0.4 mio t or +28.6% y-o-y);
- Canada: 1.6 mio t (+0.4 mio t or +33.3% y-o-y);
- Colombia: 1.3 mio t (-0.4 mio t or -23.5% y-o-y);
- USA: 0.4 mio t (-0.6 mio t or -60.0% y-o-y).
Given the crisis in the Russian coal industry, South Korea remains strategically important due to comparatively higher prices than other key markets like China and India. Russian exporters face the challenge of balancing the maintenance of supply volumes with growing pressure on the sales margins in the South Korean market.
The unprofitability of Russian coal exports keeps growing because of expensive logistics and a strong rouble. Still, producers are trying to maintain their market share, owing to the quality of their material and expectations of better conditions in the medium term, including stabilization of global prices after they hit rock bottom, as well as the forecasted correction of the rouble exchange rate.
Source: CCA
Source: thecoalhub.com
