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Machinery
Capacity of the Manufacturing System
Improved by the Spread of Smart Factories
by the Spread of Smart Factories
Supply capacity of the manufacturing system is expected to further strengthen based on the spread of smart factories, which Korea is focusing on as its main industry
The World's Third LargestSemiconductor Equipment Market
As part of the New Digital Manufacturing Innovation Strategy (2023), Korea’s central government, local governments, and private sector will leverage policy financing to support the growth of over 25,000 domestic digital manufacturing companies by 2027.
Export-based Growth Outlook
as Korea’s Core Industry
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Raised Awareness of the
Growth Potential and
High Technology
of the Machinery IndustryForeign investment in machinery is centered on semiconductor equipment, and machine tools, which decreased in 2022 from the previous year in terms of the number of investment but continued growing annually in terms of amount.
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Machinery Clusters
Centered on Metropolitan and
Gyeongnam RegionsBased on the Plan for Revitalizing Regional Innovation Clusters, which was deliberated and approved by the Presidential Committee for Balanced National Development in March 2023, the Korean government allows each city and province to independently assess the status of its clusters and determine its stage of development (Stage 1 or Stage 2).
Investment Success Story
Company P
Company P, headquartered in Germany, is a manufacturer of automotive, electronics, and energy-related components and electronic systems. Established in 1953, the company currently operates in 25 countries with a workforce of approximately 20,000 employees. As of 2022, its annual revenue reached EUR 2.5 billion.
To expand its presence in Korea, the company pursued investment opportunities with continued support from Invest KOREA since 2022. As a result, in 2024, it successfully established a production and R&D hub worth USD 50 million by acquiring shares in a domestic company. This investment is expected to enhance local production capabilities in key manufacturing industries, including the automotive sector.
Chulsoon Lee
Key Industries Promotion Team
+82-2-3460-7724
chulsoon_lee@kotra.or.kr
Recommendation on Locations
Industrial Complex Information
Munbaek Precision Machinery Industrial Complex
| Initial designation date | Mar. 14, 2011 |
|---|---|
| Designated area(m2) | 399,948 |
| Management | Chungcheongbuk-do Jincheon County |
| Nearby Railway | Ogeunjang Station |
| Distance from station(km) | 15 |
| Nearby Airport | Cheongju International Airport |
| Distance from airport(km) | 16 |
| Industrial waterSupply capacity(ton/day) | 511(㎥/day) |
| Affiliation local government | Chungcheongbuk-do Jincheon County |
| Population | 81,949 |
Industrial Complex Information
(Bugok District)
| Initial designation date | Dec. 14, 1979 |
|---|---|
| Designated area(m2) | 3,118,889 |
| Management | Korea Industrial Complex Corporation |
| Nearby Railway | Pyeongtaek Station |
| Distance from station(km) | 44 |
| Nearby Airport | Cheongju International Airport |
| Distance from airport(km) | 93 |
| Industrial water Supply capacity(ton/day) | - |
| Affiliation local government | Chungcheongnam-do Dangjin City |
| Population | 166,067 |
Industrial Complex Information
Yulchon 1 General Industrial Complex (Gwangyang Bay Area Free Economic Zone)
| Initial designation date | May. 13, 1992 |
|---|---|
| Designated area(m2) | 9,106,791 |
| Management | Gwangyang bay area Free Economic Zone Authority |
| Nearby Railway | Yulchon Station |
| Distance from station(km) | Yulchon Station |
| Nearby Airport | Yeosu Airport |
| Distance from airport(km) | 5 |
| Industrial water Supply capacity(ton/day) | 30,937(㎥/day) |
| Affiliation local government | Jeollanam-do Yeosu City |
| Population | 280,603 |
Industrial Complex Information
Banwol Plating General Industrial Complex
| Initial designation date | Feb. 16, 1988 |
|---|---|
| Designated area(m2) | 162,045 |
| Management | Gyeonggi-do Ansan City |
| Nearby Railway | Suwon Station |
| Distance from station(km) | 13 |
| Nearby Airport | Gimpo International Airport |
| Distance from airport(km) | 40 |
| Industrial water Supply capacity(ton/day) | - |
| Affiliation local government | Gyeonggi-do Ansan City |
| Population | 653,733 |
Industrial Complex Information
Jinbuk Agricultural Industrial Complex
| Initial designation date | Dec. 15, 1989 |
|---|---|
| Designated area(m2) | 133,170 |
| Management | Gyeongsangnam-do Changwon City |
| Nearby Railway | Masan Station |
| Distance from station(km) | 22 |
| Nearby Airport | Sacheon Airport |
| Distance from airport(km) | 51 |
| Industrial water Supply capacity(ton/day) | 330(㎥/day) |
| Affiliation local government | Gyeongsangnam-do Changwon City |
| Population | 1,038,677 |
Industrial Complex Information
Jungsan General Industrial Complex
| Initial designation date | May. 11, 2006 |
|---|---|
| Designated area(m2) | 128,392 |
| Management | Ulsan Metropolitan City |
| Nearby Railway | Taehwagang Station |
| Distance from station(km) | 17 |
| Nearby Airport | Ulsan Airport |
| Distance from airport(km) | 10 |
| Industrial water Supply capacity(ton/day) | 219(㎥/day) |
| Affiliation local government | Ulsan Metropolitan City Buk-gu |
| Population | 1,140,310 |