Writer 관리자 Date 2012-10-29
 Title Why Korea- Powerhouse Industries
 Content Competitive Industries

Korea has a number of global companies in various industries including the electricity and electronics, automobile, chemical, steel-making, shipbuilding and IT industries. Samsung Electronics, LG Electronics, Hyundai Motor Company, Kia Motors, POSCO and SK Telecom are a few of Korea's world-famous companies.

Automobile Industry

Korea's auto industry produced a total of 4.66 million vehicles in 2011, ranking fifth in the world. About 1.5 million vehicles are sold each year in Korea, including about 100,000 imported cars. Hyundai, Kia, General Motors, Renault Samsung and Ssangyong are the major automobile manufacturers in Korea. Notably, Hyundai and Kia have established car factories in several foreign countries as well.

IT Industry

Korea's IT industry reached a production volume of $271.7 billion in 2011. The previous year, exports of semiconductors and display panels had increased by 60%, growing 36% from the same period a year earlier. And the trend continued in 2011. Concurrently, increased demand for smartphones, smart TVs and tablet PCs led to a 9.4% growth rate in the related parts and materials industry. Also, the IT industry's exports increased by 2.0% from the previous year, reaching $156.6 billion in 2011 and an all-time high for two straight years.

Display Industry

Korea's display industry rolled out $365 billion worth of goods in 2011, recording a market share of 47.1% in the global market. In the year 2000, Korea's LCD production stood at 11 million units, while that of Japan amounted to 15 million units. Just ten years later, in 2010, Japan produced 40 million displays while Korea rolled out 330 million, or eight times more than Japan. In 2011, Korea's market share of large LCD panels in the global market exceeded 51% and OLED TVs, 87%, achieving the number one position in the world for the second consecutive year.

Semiconductor Industry

The global market for semiconductors in 2012 was estimated to be worth $310 billion. Korean companies maintain particularly high competitiveness in the area of DRAM, with its current market share standing at 65.7%. In addition to semiconductor memories, the competitiveness of Korean companies is also improving in the field of system semiconductors and discrete devices. Samsung Electronics and SK Hynix are exerting considerable market power in the global arena thanks to their high competitiveness in semiconductor memories.

The Chemical Industry

Korea's chemical industry produced 3.4% of the world's output, or $138.7 billion, in 2010, and is the world's sixth largest producer. The Korean industry's major trading partners are such Asian countries as China and Japan. Asia accounts for 45% of the global production. As Korea's FTAs with the EU and USA have taken effect, chemicals produced in Korea can be shipped to these areas tariff-free. Recently, global chemical companies have expanded their presence in Korea particularly in the area of high-end chemicals as well as R&D. Of the world's top 25 chemical producers, 21 companies including LG Chemical and SK Energy are producing in Korea.

New & Renewable Energy Industry

In 2004, Korea's new and renewable energy (NRE) industry produced $120 million worth of goods. Just six years later, in 2010, the figure jumped to $6.99 billion, exhibiting a 58-fold increase in growth. The number of companies engaged in the industry is also on the rise. The Korean government is aiming to occupy a global market share of over 15% in this industry.

It is quoted from http://www.investkorea.org/