Korea's No.1 Industries
Korea is a global leader in a wide range of industrial sectors. Already, 223 Fortune 500 companies have entered Korea, and are working with local businesses to increase their global market share.
Number One in the World
Traditionally, Korea is a powerhouse in the manufacturing industry,
with exceptional technological ability and production capacity.
It maintains the world’s largest market share in high-tech manufacturing
for semiconductors, smartphones and displays, and prides itself in being
a top 10 nation in terms of manufacturing competitiveness.
* Source : Invest KOREA, 2019
Industrial Competitiveness at a Glance
Support for innovation in the manufacturing industry is a high priority in government policy.
Support for R&D investment of SMEs grew from 12.4% in 2011 to 18% in 2017.
Governmental Goal to Strengthen Industrial Competitiveness
- The Fourth Basic Plan for National Science and Technology
- Current (2016)
- Goal (2040)
- Investment in R&D of SMEs
- Ratio to Sales
- Ratio to Sales
- Level of Technology in SMEs
- Industry Value Added per capita
- No. 7
- No. 18
- Global Manufacturing Competitiveness Index
- No. 4
- No. 5
* Source: Ministry of Science and ICT
Nurturing Korea’s New Industry
Korea is preparing for the industrial era of the future on a foundation of strong competitiveness
in manufacturing and technological capabilities that meet or exceed global standards.
It is to take pre-emptive response to the Fourth Industrial Revolution and
take active measures to the paradigm shift of the industry.
It continues to make bold investments and support in a long-term perspective.
In 2018, the Ministry of Trade, Industry and Energy designated future vehicles, new businesses of
energy industry, IoT-based home appliances, bio/healthcare and semiconductors/displays as
projects for innovation and growth, and is preparing and pursuing a variety of promotional policies.
Industrial Innovation Growth Project Promotion Plan
- Industrial Innovation Growth Project
- Promotion Plan (2018)
- Support Measures
- Future Vehicle
- Autonomous vehicle pilot project
- Development of competitive EVs
- Commercialization of service model
- Support development of hydrogen cars
- Support 30% for R&D
(Total budget of KRW 919.4 billion)
- New Business of Energy Industry
- Demonstration of EV grid connection
- Market creation through institutional improvement
- Demonstration of future energy system
- Expand to 50%
- IoT-based home appliances technology development
- Smart Home demonstration project
- Establishment of cooperative ecosystem
- Smart healthcare 4.0
- Nurturing global bio startups
- Development of AI convergence and integration medical devices
- Nurturing next generation semiconductors to lead the era of 5G
- Development of innovative process for OLED
* Source: Ministry of Industry, Trade and Energy
- Identify and ease regulation from the R&D stage
- Link with demonstration and pilot projects