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).

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.

Korea GDP: % of Manufacturing: Chemicals data was reported at 10.867 % in 2014. This records a decrease from the previous number of 10.887 % for 2013. Korea GDP: % of Manufacturing: Chemicals data is updated yearly, averaging 9.434 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 12.529 % in 1968 and a record low of 6.753 % in 2008. Korea GDP: % of Manufacturing: Chemicals 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. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Chemicals correspond to ISIC division 24.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

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

Korea GDP: % of Manufacturing: Food, Beverages and Tobacco data was reported at 5.965 % in 2014. This records a decrease from the previous number of 5.976 % for 2013. Korea GDP: % of Manufacturing: Food, Beverages and Tobacco data is updated yearly, averaging 11.389 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 31.678 % in 1964 and a record low of 5.372 % in 2011. Korea GDP: % of Manufacturing: Food, Beverages and Tobacco data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Food, beverages, and tobacco correspond to ISIC divisions 15 and 16.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

Korea GDP: % of Manufacturing: Other Manufacturing data was reported at 30.217 % in 2014. This records an increase from the previous number of 30.088 % for 2013. Korea GDP: % of Manufacturing: Other Manufacturing data is updated yearly, averaging 37.348 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 50.718 % in 1989 and a record low of 30.088 % in 2013. Korea GDP: % of Manufacturing: Other Manufacturing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Other manufacturing, a residual, covers wood and related products (ISIC division 20), paper and related products (ISIC divisions 21 and 22), petroleum and related products (ISIC division 23), basic metals and mineral products (ISIC division27), fabricated metal products and professional goods (ISIC division 28), and other industries (ISIC divisions 25, 26, 31, 33, 36, and 37). Includes unallocated data. When data for textiles, machinery, or chemicals are shown as not available, they are included in other manufacturing.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

Korea GDP: % of Manufacturing: Textiles and Clothing data was reported at 3.613 % in 2014. This records a decrease from the previous number of 3.620 % for 2013. Korea GDP: % of Manufacturing: Textiles and Clothing data is updated yearly, averaging 14.687 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 23.639 % in 1967 and a record low of 3.540 % in 2012. Korea GDP: % of Manufacturing: Textiles and Clothing data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Textiles and clothing correspond to ISIC divisions 17-19.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

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 Manufacturing: Machinery and Transport Equipment data was reported at 49.338 % in 2014. This records a decrease from the previous number of 49.429 % for 2013. Korea GDP: % of Manufacturing: Machinery and Transport Equipment data is updated yearly, averaging 14.799 % from Dec 1963 (Median) to 2014, with 52 observations. The data reached an all-time high of 50.131 % in 2010 and a record low of 4.719 % in 1964. Korea GDP: % of Manufacturing: Machinery and Transport Equipment data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Korea – Table KR.World Bank: Gross Domestic Product: Share of GDP. Value added in manufacturing is the sum of gross output less the value of intermediate inputs used in production for industries classified in ISIC major division D. Machinery and transport equipment correspond to ISIC divisions 29, 30, 32, 34, and 35.; ; United Nations Industrial Development Organization, International Yearbook of Industrial Statistics.; ;

In 2023, the semiconductor sector was the leading industry in South Korea with an export value of about **** billion U.S. dollars. This was followed by the automobile industry with an export value of around **** billion dollars.

Korea (DC)GDP: sa: Gross Value Added at Basic Prices data was reported at 212,545.800 KRW bn in Sep 2008. This records a decrease from the previous number of 214,064.800 KRW bn for Jun 2008. Korea (DC)GDP: sa: Gross Value Added at Basic Prices data is updated quarterly, averaging 33,896.800 KRW bn from Mar 1970 (Median) to Sep 2008, with 155 observations. The data reached an all-time high of 214,064.800 KRW bn in Jun 2008 and a record low of 581.000 KRW bn in Mar 1970. Korea (DC)GDP: sa: 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.A068: GDP: By Industry: Current Price: Seasonally Adjusted (Old).

Exports in South Korea increased to 59800 USD Million in June from 57270 USD Million in May of 2025. This dataset provides the latest reported value for - South Korea Exports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

BSI: Actual: Basic & Fabricated Metal: Employment data was reported at 95.000 NA in Jun 2018. This records a decrease from the previous number of 97.100 NA for May 2018. BSI: Actual: Basic & Fabricated Metal: Employment data is updated monthly, averaging 100.000 NA from Jul 2008 (Median) to Jun 2018, with 120 observations. The data reached an all-time high of 113.000 NA in Sep 2010 and a record low of 89.200 NA in Oct 2016. BSI: Actual: Basic & Fabricated Metal: Employment data remains active status in CEIC and is reported by Korea Economic Research Institute. The data is categorized under Global Database’s Korea – Table KR.S008: Business Survey Index (BSI): The Federation of Korean Industries.

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

South Korea's total Exports in 2024 were valued at US$683.13 Billion, according to the United Nations COMTRADE database on international trade. South Korea's main export partners were: China, the United States and Vietnam. The top three export commodities were: Electrical, electronic equipment; Vehicles other than railway, tramway and Machinery, nuclear reactors, boilers. Total Imports were valued at US$631.73 Billion. In 2024, South Korea had a trade surplus of US$51.40 Billion.

The South Korean commercial office market, currently valued at approximately $XX million (estimated based on provided CAGR and market trends), is experiencing robust growth, exceeding a 5% Compound Annual Growth Rate (CAGR). This expansion is driven by several key factors. Firstly, the thriving Information Technology and IT-enabled services (IT and ITES) sector in South Korea, concentrated in major cities like Seoul, Incheon, and Busan, fuels significant demand for modern office spaces. Secondly, the robust growth of the Banking, Financial Services, and Insurance (BFSI) sector, and the expansion of consulting firms, further contribute to the market's dynamism. The presence of major global players like Brookfield Asset Management and Hines, alongside prominent domestic companies such as Keangnam Enterprises and HYOSUNG, underscores the market's attractiveness to both international and domestic investors. Furthermore, ongoing urban development and infrastructure improvements in key South Korean cities are enhancing the appeal of commercial real estate. However, certain constraints exist. While the market demonstrates considerable potential, factors such as economic fluctuations and potential shifts in global investment patterns could influence the growth trajectory. The market segmentation reveals a concentration of activity in major metropolitan areas, highlighting the geographical disparities in commercial office development and demand. Future growth will likely depend on the continued success of key industries, strategic government initiatives promoting economic development, and the ability of developers to adapt to evolving technological and workplace trends, such as the increasing adoption of flexible and hybrid working models. The forecast period from 2025 to 2033 suggests continued positive growth, underpinned by the long-term economic outlook of South Korea and the ongoing expansion of its key industries. This comprehensive report provides an in-depth analysis of the South Korea commercial office market, covering the period from 2019 to 2033. With a focus on key cities like Seoul, Incheon, and Busan, the report examines market trends, drivers, restraints, and growth opportunities within the sector. The study delves into various segments including Information Technology (IT and ITES), Manufacturing, BFSI (Banking, Financial Services, and Insurance), Consulting, and Other Services, offering granular insights for strategic decision-making. The base year for this analysis is 2025, with estimations for 2025 and forecasts extending to 2033, based on historical data from 2019-2024. The market size is discussed in Millions of units. Key drivers for this market are: 4., Increase in Aging Population Driving the Market4.; Healthcare and Long-term Care Needs Driving the Market. Potential restraints include: 4., High Affordability and Cost of Care Affecting the Market4.; Staffing and Workforce Challenges Affecting the Market. Notable trends are: Increasing Demand for Prime Office Spaces.

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.

South Korea Exports: ICT: VAE: Video: Set Top Box: Other Set Top Box data was reported at 1,988,326.000 USD in Mar 2025. This records an increase from the previous number of 1,499,657.000 USD for Feb 2025. South Korea Exports: ICT: VAE: Video: Set Top Box: Other Set Top Box data is updated monthly, averaging 23,512,858.000 USD from Jan 1996 (Median) to Mar 2025, with 350 observations. The data reached an all-time high of 119,829,455.000 USD in Dec 2002 and a record low of 812.000 USD in Jan 1996. South Korea Exports: ICT: VAE: Video: Set Top Box: Other Set Top Box data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.JA064: Trade Statistics: Export: Information & Communication Technology Industry.