South Korea’s exports reach record levels

South Korea exported 4.49Mt of cement in 2011, up a marked 62 per cent from 2.7Mt as producers turn to exports as a property slump hurts domestic demand.

Including clinker, total exports reached a record 9.97Mt last year compared to 7.53Mt in 2010, data from the Korea Cement Association (KCA) showed.

Continued stagnation in the construction sector has led local producers to explore export markets. "Cement makers sought to sell their products even in overseas markets because the local demand for cement was so low," said an official from a local cement manufacturer.

Although per capita annual consumption has remains above 1000kg cement sales remain well below the record 58Mta level of 2003, partly due to increased use of slag and ash.