In 2024, the gross domestic product (GDP) produced from the manufacturing sector in South Korea amounted to approximately 611 trillion South Korean won, being the most valuable sector by far compared to other sectors of the country. However, when looking at the combined GDP of all service industry sectors, their total exceeded 1,000 trillion won. This indicates that the service sector collectively plays a crucial role in driving the country's economic growth.

In 2023, services contributed around 58.42 percent to South Korea's gross domestic product (GDP), while 31.59 percent came from South Korea’s industry sector, and a little less than two percent of South Korea’s GDP was generated by the country’s agriculture sector. South Korea’s services sector employed over 70 percent of the South Koreans workforce in 2018 . South Korea’s workforce Much of the over 51 million inhabitants of South Korea are employed, and the unemployment rate is expected to remain under four percent through 2024. South Korea is experiencing the effects of an aging labor force, with a decrease in population share of people entering the work force, and a simultaneous increase of the number of those aged 65 years and above. Despite that, the country’s economy has remained a powerhouse, growing at around 2.5 percent from 2018 to 2019. The South Korean economy South Korea is known as an economic success story; it rose from one of the poorest countries before the 1960’s to a developed country with a high income level. Overall, South Korea’s total GDP was estimated to be approximately 1.7 trillion U.S. dollars in 2019, and is expected to continue to increase through 2024. South Korea is considered to be one of the core economies driving the next generation of economic growth, alongside the BRIC countries (Brazil, Russia, India, and China).

In 2022, the machinery sector had the most businesses in the manufacturing industry in South Korea, with 10,369 registered companies. This was followed by the automobile industry with 4,822 businesses.

The Gross Domestic Product (GDP) in South Korea was worth 1712.79 billion US dollars in 2023, according to official data from the World Bank. The GDP value of South Korea represents 1.62 percent of the world economy. This dataset provides - South Korea GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the motor vehicle and trailer manufacturing sector was the leader in the manufacturing industry, with a production value of about 282.5 trillion South Korean won. Following closely were the manufacturing sectors for electronic components, computers, and video, audio, and telecommunications equipment, which generated around 264.62 trillion won.

Key information about South Korea Industrial Production Index Growth

• South Korea Industrial production rose 3.6 % YoY in Jan 2025, following an increase of 3.7 % YoY in the previous month.
• South Korea Industrial production index growth rate YoY data is updated monthly, available from Jan 1958 to Jan 2025, with an average rate of 8.8 %.
• The data reached an all-time high of 39.9 % in Apr 1968 and a record low of -21.5 % in Jan 2009.

CEIC calculates Industrial Production Index Growth from monthly Industrial Production Index. Statistics Korea provides Industrial Production Index with base 2020=100. Industrial Production Index Growth prior to January 1981 is calculated from Industrial Production Index with base 2010=100 sourced from the International Monetary Fund.

Korea GDP: % of GDP: Gross Value Added: Industry data was reported at 35.869 % in 2017. This records an increase from the previous number of 35.130 % for 2016. Korea GDP: % of GDP: Gross Value Added: Industry data is updated yearly, averaging 33.251 % from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 36.489 % in 1991 and a record low of 17.083 % in 1960. Korea GDP: % of GDP: Gross Value Added: Industry data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s South Korea – Table KR.World Bank.WDI: Gross Domestic Product: Share of GDP. Industry corresponds to ISIC divisions 10-45 and includes manufacturing (ISIC divisions 15-37). It comprises value added in mining, manufacturing (also reported as a separate subgroup), construction, electricity, water, and gas. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3 or 4.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average; Note: Data for OECD countries are based on ISIC, revision 4.

(DC)CG: Gross Value Added at Basic Prices data was reported at 3.500 % in Dec 2013. This records an increase from the previous number of 2.900 % for Sep 2013. (DC)CG: Gross Value Added at Basic Prices data is updated quarterly, averaging 6.300 % from Mar 1971 (Median) to Dec 2013, with 172 observations. The data reached an all-time high of 17.000 % in Sep 1973 and a record low of -6.100 % in Jun 1998. (DC)CG: Gross Value Added at Basic Prices data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s Korea – Table KR.A057: Reference Year=2005: Contributions to Growth in Real GDP: by Industry .

South Korea manufacturing output for 2023 was 416.39 billion US dollars, a 2.95% decline from 2022.

<ul style='margin-top:20px;'>

<li>South Korea manufacturing output for 2022 was <strong>429.06 billion US dollars</strong>, a <strong>7.42% decline</strong> from 2021.</li>
<li>South Korea manufacturing output for 2021 was <strong>463.45 billion US dollars</strong>, a <strong>13.74% increase</strong> from 2020.</li>
<li>South Korea manufacturing output for 2020 was <strong>407.47 billion US dollars</strong>, a <strong>2.18% decline</strong> from 2019.</li>
</ul>Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars.

The tourism sector GDP share in South Korea was forecast to continuously increase between 2023 and 2028 by in total 0.6 percentage points. The share is estimated to amount to 2.71 percent in 2028. While the share was forecast to increase significant in the next years, the increase will slow down in the future.Depited is the economic contribution of the tourism sector in relation to the gross domestic product of the country or region at hand.The forecast has been adjusted for the expected impact of COVID-19.The shown data are an excerpt of Statista's Key Market Indicators (KMI). The KMI are a collection of primary and secondary indicators on the macro-economic, demographic and technological environment in more than 150 countries and regions worldwide. All input data are sourced from international institutions, national statistical offices, and trade associations. All data has been are processed to generate comparable datasets (see supplementary notes under details for more information).Find more key insights for the tourism sector GDP share in countries like Japan and China.

Employment in industry (% of total employment) (modeled ILO estimate) in South Korea was reported at 23.99 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. South Korea - Employment in industry (% of total employment) - actual values, historical data, forecasts and projections were sourced from the World Bank on May of 2025.

Korea Production: Basic Chemicals: Toluene data was reported at 156,440.000 Metric Ton in May 2018. This records a decrease from the previous number of 160,448.000 Metric Ton for Apr 2018. Korea Production: Basic Chemicals: Toluene data is updated monthly, averaging 147,631.000 Metric Ton from Jan 1995 (Median) to May 2018, with 281 observations. The data reached an all-time high of 199,103.000 Metric Ton in May 2012 and a record low of 67,474.000 Metric Ton in Jun 1996. Korea Production: Basic Chemicals: Toluene data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.B025: Production by Major Products.

South Korea industry 4.0 market size reached USD 3,138.9 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 10,534.4 Million by 2033, exhibiting a growth rate (CAGR) of 14.4% during 2025-2033. The growing automation of various industrial processes to reduce the occurrence of errors and improve operational efficiency, increasing integration of artificial intelligence (AI) and machine learning (ML), and rising need for robust security maintenance represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 3,138.9 Million
Market Forecast in 2033	USD 10,534.4 Million
Market Growth Rate (2025-2033)	14.4%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on component, technology type, and end use industry.

Production: Basic Iron & Steel: Steel Pipe data was reported at 314,998.000 Metric Ton in Sep 2018. This records a decrease from the previous number of 346,323.000 Metric Ton for Aug 2018. Production: Basic Iron & Steel: Steel Pipe data is updated monthly, averaging 355,237.000 Metric Ton from Jan 1995 (Median) to Sep 2018, with 285 observations. The data reached an all-time high of 563,455.000 Metric Ton in Oct 2014 and a record low of 203,603.000 Metric Ton in Jan 1998. Production: Basic Iron & Steel: Steel Pipe data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.B028: Production by Major Products.

The South Korean infrastructure market, valued at $59.76 billion in 2025, is projected to experience steady growth, with a Compound Annual Growth Rate (CAGR) of 3.24% from 2025 to 2033. This growth is driven by several key factors. Government initiatives focused on upgrading aging infrastructure, particularly in transportation (railways, roadways, and airports) and social infrastructure (schools and hospitals), are significant contributors. Furthermore, increasing urbanization and a rising demand for improved connectivity are fueling investment in both public and private infrastructure projects. The expansion of the country's manufacturing sector, especially in areas like metal and ore production and petroleum refining, necessitates substantial investment in supporting industrial infrastructure. However, potential restraints include fluctuating material costs, labor shortages, and potential economic downturns that could impact project timelines and budgets. The market is segmented by type, with transportation infrastructure currently holding a substantial share, followed by social and extraction infrastructure. Key players in the market include established construction conglomerates such as Samsung C&T, Hyundai E&C, and Daewoo E&C, reflecting the considerable level of competition. The long-term outlook remains positive, fueled by ongoing government investments and the country's commitment to modernizing its infrastructure network. The projected growth trajectory suggests a market size exceeding $75 billion by 2033, reflecting both organic growth and planned infrastructure projects. The market's segmentation reveals opportunities across various infrastructure types. While transportation infrastructure currently dominates, significant growth is anticipated in other segments such as the extraction and manufacturing sectors, driven by technological advancements and evolving industrial needs. Competition among leading construction firms will likely intensify as they vie for substantial government and private contracts. Understanding the interplay between government policy, technological progress, and economic fluctuations is crucial for successfully navigating this dynamic market landscape. Recent developments include: January 2024: South Korea's overseas construction orders surpassed USD 30 billion in 2023, marking the fourth consecutive year of this achievement. Orders from the US primarily fueled the surge, as it aimed to attract electric vehicle and battery manufacturers to its shores. Additionally, there was a resurgence in plant demand from the Middle East. As per the data released by Korea's Ministry of Land, Infrastructure, and Transport and the International Constructors Association of Korea, 321 Korean construction and engineering firms secured orders worth USD 33.3 billion from 95 countries in 2023.July 2023: Samsung C&T Engineering & Construction Group, in collaboration with a local construction firm, was awarded a lucrative contract for the Fubon Aozihdi Development Project in Kaohsiung. Fubon Life, a prominent insurance company headquartered in Taipei, has commissioned this ambitious venture. Valued at a staggering USD 790 million, Samsung C&T's share in the project amounts to approximately USD 592 million. The development, set to be completed in the future, will feature a 48-story (240 m) office tower, a 23-story hotel, and a connecting podium on the lower floors.. Key drivers for this market are: Country's strong focus on innovation and technology, Promoting economic growth driving the market. Potential restraints include: Country's strong focus on innovation and technology, Promoting economic growth driving the market. Notable trends are: Investment on Transportation Infrastructure Driving the Market.

In 2022, the semiconductor industry was the leading industry in South Korea in terms of added value, which came to 126 trillion South Korean won that year. The automobile industry followed with an added value of around 62 trillion South Korean won.

The South Korea Major Home Appliances Market report segments the industry into By Product (Refrigerators, Freezers, Dishwashers, Washing Machines, Cookers and Ovens, Other Products) and By Distribution Channel (Hypermarkets/Supermarkets, Specialty Stores, E-commerce/Online, Other Distribution Channels). Get five years of historical data alongside five-year market forecasts.

Industrial Production in South Korea increased 4.90 percent in April of 2025 over the same month in the previous year. This dataset provides the latest reported value for - South Korea Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

South Korea smart factory market size is projected to exhibit a growth rate (CAGR) of 9.79% during ​2025-2033​. The increasing preferences of individuals for customized and personalized products, the development of a robust digital ecosystem, and rising collaborations between industries and academic institutions represent some of the key factors driving the market.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Growth Rate (2025-2033)	9.79%

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on field devices, technology, and end use industry.

The South Korea Factory Automation And Industrial Control Market report segments the industry into By Product Type (Presence Sensing Safety Sensors, Emergency Stop Devices, Safety Controllers/Modules, Safety Mats, Programmable Logic Controllers (PLC), Human Machine Interface (HMI), and more) and By End-User (Automotive, Semiconductor, Manufacturing, Oil and Gas, Chemical and Petrochemical, Food and Beverage, and more).