Key Takeaways
- In 2022, South Korea's manufacturing production index stood at 108.5 (2020=100), reflecting a 3.2% year-on-year growth driven by semiconductors and automobiles
- The semiconductor manufacturing sector in South Korea produced 1.47 million tons of semiconductors in 2023, accounting for 18.5% of global output
- Automobile production in South Korea reached 4.22 million units in 2022, with exports comprising 78.9% of total production
- South Korea's manufacturing employment totaled 4.12 million persons in 2023, representing 16.5% of total employment
- Average monthly wages in manufacturing were KRW 4.82 million in 2023, up 3.1% YoY
- Manufacturing labor productivity per hour was USD 45.2 in 2022
- South Korea's manufacturing exports reached USD 643.7 billion in 2023, accounting for 85% of total exports
- Semiconductor exports totaled USD 128.9 billion in 2023, up 7.8% YoY
- Automobile exports were USD 64.2 billion in 2023, with 3.95 million units shipped
- Manufacturing R&D expenditure was KRW 112.4 trillion in 2022, 82% of national total R&D
- R&D intensity in manufacturing: 5.8% of value added in 2023
- Private sector manufacturing R&D: KRW 92.7 trillion in 2022
- Manufacturing total factor productivity grew 1.8% YoY in 2023
- Labor productivity in manufacturing: USD 42,500 per worker in 2022
- Energy intensity in manufacturing: 0.12 toe per KRW million value added in 2023
South Korea's manufacturing industry is a globally competitive powerhouse driven by semiconductors and automobiles.
Employment and Labor
Employment and Labor Interpretation
Exports and Trade
Exports and Trade Interpretation
Investment and R&D
Investment and R&D Interpretation
Production and Output
Production and Output Interpretation
Productivity and Efficiency
Productivity and Efficiency Interpretation
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