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.

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.

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.