 The COVID-19 pandemic has had a major impact on Korea's economy with reduced production, consumption of oil-based goods, employment, and investment. Households have shifted away from oil-based products towards non-oil goods, while production technology levels have dropped significantly due to the pandemic. This has resulted in a decrease in household and business consumption of oil-based goods, as well as a decrease in household and business consumption overall. This article was authored by Yu-Gon-Hee.