Korean exports of petroleum products are rapidly increasing.

Oil refineries and the Korea National Oil Corporation said the total amount of exports from January to August this year hit over US$27 billion.

This is a more than 95 percent increase over the same period last year and is $23 billion more than the total petroleum exports for 2007.

Petroleum products were recorded as the most exported items from Korea for three straight months starting in June.

Oil refineries predict the total export value of petroleum products will reach well over $40 billion by the end of the year if this pace is kept up.

Arirang News