Korea ranked fifth in terms of world paper production according to statistics released by U.S.-based RISI, a leading information provider for the forest products industry.

The country manufactured 11.8 million tons of paper and board in 2013 -- putting it just ahead of Sweden. Korea also consumed 9.55 million tons of paper last year to rank ninth.

"Korea overcame a shortag e of forest resources by recycling waste paper," Choi Byung-min, chairman of the Korea Paper Association, said on Monday.

Countries like Canada and Sweden have abundant forest resources, but Korea, heavily reliant on imports for pulp, increased recycling in place of such resources.

Korea leads the world in paper recycling at a rate of 92.1 percent.