Korea has traditionally been New Zealand’s largest export market. But since the mid 2000’s, China’s significant economic growth has seen China demand outstrip the volume of the Korea market.
TPT currently exports approximately 500,000 m3 per annum to the Korean market representing approximately 20% of the total radiata market share.
The Korean log market is in gradual decline as the Korean economy has been through its rapid growth phase, and building and construction has slowed considerably from the rapid expansion of the 1980’s through to the late 1990’s. However the Korean market is still a significant market for logs from all global sources. The gradual decline in demand has left the country with significant over capacity in sawmilling, MDF manufacturing and Plywood manufacturing, and is therefore a very competitive market.
As Korea has become more sophisticated, the customer base has moved from an import/wholesaling market to now being dominated by three major end-user/importers.
Since 1997, TPT has been a significant exporter to Korea. Currently TPT exports to both Incheon and Kunsan, the two major log import ports in Korea, with an extensive base of both end-users and wholesaling customers in both ports.
TPT employs one full time staff member in Korea, with over 35 years experience in the log and lumber industry. The TPT office is based in Incheon.