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.

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 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: 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.; ;

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.; ;

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 (DC)GDP: Gross Value Added at Basic Prices data was reported at 212,195.000 KRW bn in Sep 2008. This records an increase from the previous number of 212,070.900 KRW bn for Jun 2008. Korea (DC)GDP: Gross Value Added at Basic Prices data is updated quarterly, averaging 34,570.500 KRW bn from Mar 1970 (Median) to Sep 2008, with 155 observations. The data reached an all-time high of 219,272.400 KRW bn in Dec 2007 and a record low of 391.900 KRW bn in Mar 1970. Korea (DC)GDP: 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.A067: GDP: By Industry: Current Price (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.

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.

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.

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.

South Korea GDP: sa: Gross value added at basic prices data was reported at 472,390.900 KRW bn in Mar 2019. This records a decrease from the previous number of 479,100.600 KRW bn for Dec 2018. South Korea GDP: sa: Gross value added at basic prices data is updated quarterly, averaging 307,818.800 KRW bn from Mar 2000 (Median) to Mar 2019, with 77 observations. The data reached an all-time high of 479,226.400 KRW bn in Sep 2018 and a record low of 158,393.900 KRW bn in Mar 2000. South Korea 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 South Korea – Table KR.A011: SNA08: GDP: by Industry: 2015 Input-Output Table: Current Price: Seasonally Adjusted.

Between January and November 2024, industry PR held the largest share of voice (SOV) in business and industry advertising on South Korean TV, accounting for 44 percent. This was followed by job recruitment and other business, at 21 percent and 17 percent respectively. This was based on the share of set-top boxes, also known as cable boxes or receivers, which were exposed to a TV ad featuring a given brand or product, including repeats.

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.

According to a survey among South Korean companies on the continuation of offering remote work models, the IT sector was the most open to working from home. The IT sector made up **** percent of the companies responding that they will continue with remote work even after the COVID-19 pandemic. This was close to double the average, as only ** percent of companies overall stated they would continue with working from home.

The size of the South Korea Oil & Gas Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 1.50">> 1.50% during the forecast period. The oil and gas industry are essential in South Korea's energy landscape and economy. Being a resource-scarce country, South Korea heavily depends on imports to supply energy to the country, and it is one of the world's largest importers of crude oil and natural gas. The industry focuses on refining and petrochemicals, which are what must be maintained as support infrastructures for the country's industrial platform and export-oriented economy. The South Korean refiners SK Innovation and Hyundai Oilbank are among the global leaders, and it is with highly developed facilities that process huge percentages of crude oil imported into the country from other producers, turning them into an array of different products from gasoline to diesel and petrochemicals. The South Korean natural gas sector is also highly important. A state-run entity called KOGAS controls imports, distribution, and the regasification of liquefied natural gas (LNG). The strategic investment of South Korea in LNG infrastructure, namely import terminals and storage facilities, has been a stronghold position in the international markets. Opening doors more towards cleaner energy sources and less carbon emission, the country is further in a hurry to push towards an energy resource diversification; highly focusing on LNG and renewable energy. Such a transition is something mandatory for energy security in South Korea and that contradicts its broader objectives such as environmental sustainability and economic growth. Recent developments include: In January 2022, the country passed a resolution labelling LNG as a green fuel, as a part of its decarbonisation strategy to achieve a clean energy transition. This move is expected to have an impact on green financing, the future course of carbon taxes/emissions caps, the decommissioning pathway of coal-fired plants and South Korea's future energy mix, In July 2021, South Korea's state-run Korea Gas Corp (KOGAS) signed a 20-year LNG supply agreement with Qatar for the next 20 years starting in 2025. The contract stipulates that KOGAS will buy 2 million tons of LNG annually from Qatar Petroleum. The energy ministry added that KOGAS buys 9 million tons of LNG annually from Qatar through long-term contracts, and a contract worth 4.9 million tons of LNG is expected to end in 2024. Key drivers for this market are: 4., Increasing Power Demand across Industrial Sector4.; Remote Location of Several Industries and the Unreliability of the Power Supply. Potential restraints include: 4., High Capital and Operational Expenditures. Notable trends are: Downstream segment to dominate the market.