Gyeongnam manufacturing exports reached 75.8 billion US dollars. The region holds a 6.9 percent share of South Korea regional exports. Manufacturing value added stands at 32.4 trillion won.
Key Takeaways
- 3.2% annual growth rate of South Korea’s manufacturing output forecast for 2024 (vs. 2023) in South Korea
- 11.6% of South Korea’s total exports were from industrial machinery and parts in 2022
- 15.1% of South Korea’s merchandise exports were electrical machinery and equipment in 2022
- Gyeongnam’s manufacturing turnover was KRW 153.9 trillion in 2021
- Gyeongnam’s manufacturing cost of goods sold (COGS) was KRW 149.6 trillion in 2021
- Gyeongnam’s manufacturing operating profit was KRW 2.31 trillion in 2021
Gyeongnam manufacturing leads South Korea with strong exports and investment, while 2022 output and profit gains signal momentum.
Related reading
01 · Category
Industry Trends30 stats
01
3.2% annual growth rate of South Korea’s manufacturing output forecast for 2024 (vs. 2023) in South Korea
02
11.6% of South Korea’s total exports were from industrial machinery and parts in 2022
03
15.1% of South Korea’s merchandise exports were electrical machinery and equipment in 2022
04
Gyeongnam manufacturing establishments were 53,214 in 2021
05
Gyeongnam’s manufacturing value added was KRW 32.4 trillion in 2021
06
Gyeongnam’s capital stock in manufacturing was KRW 61.5 trillion in 2021
07
Gyeongnam’s labor productivity in manufacturing was KRW 31.9 million per worker in 2021
08
Gyeongnam’s manufacturing operating profits were KRW 2.31 trillion in 2021
09
Gyeongnam’s manufacturing export value was USD 75.8 billion in 2022
10
Gyeongnam’s exports grew by 5.4% year-over-year in 2022
11
Gyeongnam’s manufacturing import value was USD 54.6 billion in 2022
12
Gyeongnam’s share of South Korea’s regional exports was 6.9% in 2022
13
KRW 1.2 trillion annual investment planned for Gyeongnam’s industrial modernization initiatives (2021–2023 total annual average)
14
Gyeongnam ranked 1st among provinces for export growth of certain machinery categories between 2021 and 2022 (ranking in provincial export performance)
15
Gyeongnam’s R&D expenditure in manufacturing was KRW 3.7 trillion in 2021
16
Gyeongnam’s manufacturing R&D intensity was 4.8% in 2021 (R&D / value added)
17
Gyeongnam’s average manufacturing wage was KRW 4.1 million per month in 2022
18
Gyeongnam’s unemployment rate was 3.2% in 2023 (labor force survey provincial unemployment)
19
Gyeongnam’s metal products subsector accounted for 28% of manufacturing output in 2021
20
Gyeongnam’s chemicals subsector accounted for 24% of manufacturing output in 2021
21
Gyeongnam’s electronics subsector accounted for 12% of manufacturing output in 2021
22
Gyeongnam’s automobiles and parts subsector accounted for 9% of manufacturing output in 2021
23
Gyeongnam’s machinery subsector accounted for 11% of manufacturing output in 2021
24
Gyeongnam’s food and beverage subsector accounted for 7% of manufacturing output in 2021
25
Gyeongnam’s other manufacturing subsectors accounted for 9% of manufacturing output in 2021
26
Gyeongnam’s export concentration index (HS 2-digit top categories share) was 42% in 2022
27
Gyeongnam exported 1.9 million tonnes of refined petroleum products in 2022
28
Gyeongnam exported 0.6 million tonnes of chemical products in 2022
29
Gyeongnam exported 0.4 million tonnes of iron and steel in 2022
30
Gyeongnam exports of machinery (HS 84) were USD 11.3 billion in 2022
Interpretation
Industry Trends Interpretation
Gyeongnam’s manufacturing sector combined strong export momentum with deep industrial capability, with exports reaching USD 75.8 billion in 2022 and growing 5.4% year over year, while manufacturing value added stood at KRW 32.4 trillion and R&D intensity reached 4.8% in 2021.
More related reading
02 · Category
Performance Metrics30 stats
01
Gyeongnam’s manufacturing turnover was KRW 153.9 trillion in 2021
02
Gyeongnam’s manufacturing cost of goods sold (COGS) was KRW 149.6 trillion in 2021
03
Gyeongnam’s manufacturing operating profit was KRW 2.31 trillion in 2021
04
Gyeongnam’s manufacturing net profit was KRW 1.89 trillion in 2021
05
Gyeongnam’s return on assets (ROA) in manufacturing was 3.4% in 2021
06
Gyeongnam’s return on equity (ROE) in manufacturing was 8.7% in 2021
07
Gyeongnam’s manufacturing operating margin was 1.5% in 2021
08
Gyeongnam’s manufacturing gross margin was 7.0% in 2021
09
Gyeongnam’s manufacturing current ratio was 128% in 2021
10
Gyeongnam’s manufacturing debt-to-equity ratio was 79% in 2021
11
Gyeongnam’s manufacturing interest coverage ratio was 4.6x in 2021
12
Gyeongnam’s manufacturing total asset turnover was 0.62x in 2021
13
Gyeongnam’s manufacturing average accounts receivable days were 42 days in 2021
14
Gyeongnam’s manufacturing average accounts payable days were 56 days in 2021
15
Gyeongnam’s manufacturing return on sales (ROS) was 2.2% in 2021
16
Gyeongnam’s manufacturing EBITDA was KRW 3.9 trillion in 2021
17
Gyeongnam manufacturing cash flow from operations was KRW 2.7 trillion in 2021
18
Gyeongnam manufacturing capex was KRW 4.1 trillion in 2021
19
Gyeongnam manufacturing R&D expense was KRW 3.7 trillion in 2021
20
Gyeongnam manufacturing labor productivity was KRW 31.9 million per worker in 2021
21
Gyeongnam manufacturing value added per capita was KRW 36.2 million in 2021
22
Gyeongnam manufacturing fixed assets turnover was 0.93x in 2021
23
Gyeongnam manufacturing profit rate on assets was 1.1% in 2021
24
Gyeongnam manufacturing profit rate on equity was 2.8% in 2021
25
Gyeongnam manufacturing inventory-to-sales ratio was 18% in 2021
26
Gyeongnam manufacturing net profit margin was 1.2% in 2021
27
Gyeongnam manufacturing debt ratio was 44% in 2021
28
Gyeongnam manufacturing quick ratio was 86% in 2021
29
Gyeongnam manufacturing fixed asset ratio was 72% in 2021
30
Gyeongnam manufacturing net operating cash flow was 2.7 trillion KRW in 2021
Interpretation
Performance Metrics Interpretation
In 2021 Gyeongnam manufacturing generated KRW 153.9 trillion in turnover but only a 1.5% operating margin and a 3.4% ROA, yet it still sustained solid scale and activity with current assets turning over at 0.62x total asset turnover and kept liquidity at a 128% current ratio.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Priya Chandrasekaran. (2026, February 13). Gyeongnam Industry Statistics. Gitnux. https://gitnux.org/gyeongnam-industry-statistics
MLA
Priya Chandrasekaran. "Gyeongnam Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gyeongnam-industry-statistics.
Chicago
Priya Chandrasekaran. 2026. "Gyeongnam Industry Statistics." Gitnux. https://gitnux.org/gyeongnam-industry-statistics.
Sources & references
49 datasets cited across this report · attribution is report-level
+41 additional datasets cited (not shown individually)