From powering over two-thirds of the world’s smartphones to building the high-bandwidth memory at the heart of the AI revolution, South Korea’s technology industry isn’t just participating in the global market—it’s actively defining its future.
Key Takeaways
- In 2023, South Korea produced 66.5% of the world's DRAM chips, with Samsung Electronics holding 43.8% global market share and SK hynix 22.7%
- Samsung Electronics supplied 37.3% of global NAND flash memory in Q4 2023, leading the market ahead of SK hynix at 20.1%
- South Korea's semiconductor industry accounted for 20.1% of total national exports in 2023, valued at $128.7 billion
- South Korea's OLED display market revenue reached $35 billion in 2023, with Samsung Display holding 47.5% global share for smartphone OLED panels
- LG Display shipped 60 million OLED TV panels in 2023, capturing 55% of global WOLED market
- South Korea produced 1.2 billion sqm of LCD panels in 2023, but shifted 20% capacity to OLED
- South Korea's Samsung Galaxy S series held 22% global smartphone market share in Q4 2023, with 61.8 million units shipped annually
- Samsung Electronics shipped 226 million smartphones worldwide in 2023, maintaining 20% market share
- South Korea's mobile phone exports reached $25.6 billion in 2023
- South Korea's R&D expenditure on technology reached 28.4 trillion KRW (4.93% of GDP) in 2022
- South Korea filed 231,000 patent applications in 2022, 2nd highest globally after China
- Samsung Electronics R&D spend was 24.1 trillion KRW ($18 billion) in 2023
- South Korea's technology exports totaled $240.5 billion in 2023, accounting for 23.4% of total exports
- Semiconductor exports from South Korea surged 42.7% YoY to $128.7 billion in 2023
- South Korea's IT products exports grew 7.5% to $197 billion in 2023
South Korea's technology industry leads globally in semiconductors and displays.
Displays
- South Korea's OLED display market revenue reached $35 billion in 2023, with Samsung Display holding 47.5% global share for smartphone OLED panels
- LG Display shipped 60 million OLED TV panels in 2023, capturing 55% of global WOLED market
- South Korea produced 1.2 billion sqm of LCD panels in 2023, but shifted 20% capacity to OLED
- Samsung Display's foldable OLED panels for Galaxy Z series grew shipments 40% YoY to 15 million units in 2023
- Global mini-LED TV panel market share by South Korea was 25% in 2023, led by Samsung and LG
- South Korea's IT display exports totaled $50.2 billion in 2023
- LG Display invested 3.5 trillion KRW in Gen 8.5 OLED IT fab in 2023
- Samsung Display's QD-OLED panels for monitors reached 2 million units shipped in 2023
- South Korea holds 90% global market share in rigid OLED panels for smartphones in 2023
- BOE overtook LG Display in large OLED TV panels with 20% share, but South Korea still leads premium segment at 70%
- South Korea's flexible OLED panel production capacity is 70 million units/month in 2023
- Samsung Display's automotive OLED shipments doubled to 5 million units in 2023
- LG Display's MLA OLED brightness reached 3,000 nits in 2023 models for TVs
- South Korea's display industry R&D spend was 4.2 trillion KRW in 2023
- Global AMOLED smartphone panel market share by Samsung was 48% in Q4 2023
- South Korea exported 250 million display modules for notebooks in 2023
- Samsung Display shut down 4 LCD lines to focus on OLED, reducing LCD capacity by 30% in 2023
- LG Display's Paju OLED fab yield exceeded 90% for TV panels in 2023
- South Korea's share of global IT display production was 42% by area in 2023
- Samsung's MicroLED prototypes scaled to 100-inch class in 2023 demo
- South Korea produced 80% of world's high-end gaming monitor panels in 2023
- LG Display's OLED tablet panels shipments hit 10 million in 2023
- South Korea's display patent filings were 12,000 in 2022, 18% global share
- Samsung Display revenue from OLED was $25 billion in 2023, up 10% YoY
Displays Interpretation
While the world marvels at the vibrant glow of their screens, South Korea's display giants are playing an absolute masterclass in high-stakes panel poker, doubling down on dazzling OLED innovations with billions in bets, gracefully folding their LCD hands, and dealing themselves a commanding royal flush of global market shares that leaves competitors squinting in envy.
Exports
- South Korea's technology exports totaled $240.5 billion in 2023, accounting for 23.4% of total exports
- Semiconductor exports from South Korea surged 42.7% YoY to $128.7 billion in 2023
- South Korea's IT products exports grew 7.5% to $197 billion in 2023
- Samsung Electronics' export revenue was 150 trillion KRW ($113 billion) in 2023
- Display panel exports reached $55.8 billion, up 10.2% in 2023
- South Korea's wireless communication devices exports: $40.2 billion in 2023
- Mobile phone exports hit $28.1 billion, 9% YoY growth in 2023
- South Korea-US tech trade volume: $120 billion in 2023
- China imported $80 billion in South Korean semiconductors in 2023
- South Korea's tech trade surplus: $85 billion in 2023
- ICT service exports: $15.4 billion in 2023, up 12%
- South Korea-Vietnam tech exports: $25 billion in 2023
- Battery-related tech exports: $12.5 billion in 2023
- South Korea's EU tech exports grew 15% to $30 billion in 2023
- Computer and peripheral exports: $18.7 billion in 2023
- South Korea ranks 5th globally in tech goods exports with 5.2% share in 2023
- Home appliance tech exports: $22.3 billion, up 8% in 2023
- South Korea-India tech trade: $20 billion exports in 2023
- Medical tech devices exports: $10.1 billion in 2023
- South Korea's tech M&A outbound deals value: $5.8 billion in 2023
- Optical instruments exports: $8.4 billion in 2023
- South Korea-ASEAN tech exports: $60 billion in 2023
- Tech component exports to US: $50 billion in 2023
Exports Interpretation
South Korea has essentially become the world's indispensable tech quartermaster, where its formidable chipmaking prowess not only bankrolls the nation but also powers the gadgets and infrastructure of allies and rivals alike.
Mobile Devices
- South Korea's Samsung Galaxy S series held 22% global smartphone market share in Q4 2023, with 61.8 million units shipped annually
- Samsung Electronics shipped 226 million smartphones worldwide in 2023, maintaining 20% market share
- South Korea's mobile phone exports reached $25.6 billion in 2023
- LG Electronics exited smartphone business in 2021, but supplied components worth $5 billion in 2023
- Samsung's foldable smartphone shipments grew 58% YoY to 10.5 million units in 2023
- South Korea's 5G smartphone penetration reached 85% of total shipments in 2023
- Samsung Exynos chips powered 30% of Galaxy A series in 2023
- South Korea has 45 million 5G subscribers as of end 2023, 88% of mobile population
- Samsung's mid-range smartphones captured 15% global market in 2023
- South Korea's smartphone R&D investment by Samsung was 20 trillion KRW in 2023
- Galaxy S24 series pre-orders hit 1.6 million units in South Korea within 1 hour in Jan 2024
- South Korea's mobile device patent filings ranked 2nd globally with 15,000 in 2022
- Samsung's camera sensor tech in smartphones led with 200MP sensors in 40% of flagships 2023
- South Korea exported 50 million feature phones and tablets in 2023
- Samsung's One UI software active devices exceeded 300 million in 2023
- South Korea's average smartphone ARPU from services was $25/month in 2023
- Samsung held 60% domestic smartphone market share in South Korea Q4 2023
- South Korea's mobile gaming revenue from devices hit $6 billion in 2023
- Samsung's Tizen OS on wearables reached 50 million activations by 2023
- South Korea leads in per capita smartphone penetration at 125% in 2023
- Galaxy Z Fold/Flip series battery life improved 20% with new processors in 2023 models
- South Korea's refurbished smartphone exports grew 25% to $2 billion in 2023
- Samsung's DeX platform users doubled to 10 million in 2023
- South Korea's 6G R&D consortium tested 100Gbps speeds in 2023 trials
Mobile Devices Interpretation
Despite a historic stumble, South Korea’s smartphone crown rests firmly, if lopsidedly, on Samsung’s head, which is already stretching into foldables, peering past 5G at 6G, and quietly making sure everyone else’s phones are built with its parts anyway.
R&D
- South Korea's R&D expenditure on technology reached 28.4 trillion KRW (4.93% of GDP) in 2022
- South Korea filed 231,000 patent applications in 2022, 2nd highest globally after China
- Samsung Electronics R&D spend was 24.1 trillion KRW ($18 billion) in 2023
- South Korea ranks 1st in Bloomberg Innovation Index 2023 for tech innovation
- Number of tech startups in South Korea reached 15,000 in 2023, up 20% YoY
- South Korea's venture capital investment in tech hit 5.2 trillion KRW in 2023
- Government R&D budget for ICT was 4.1 trillion KRW in 2024
- South Korea's researchers per million people: 17,248 in 2022, 2nd globally
- SK Hynix R&D investment grew 30% to 7.5 trillion KRW in 2023
- South Korea secured 1st place in IMD World Digital Competitiveness Ranking 2023
- Tech unicorn count in South Korea: 22 as of 2023
- National Science & Technology Council budget: 30 trillion KRW for 2023
- South Korea's AI R&D funding: 2.2 trillion KRW announced for 2024-2027
- Patent commercialization rate in tech sector: 45% in 2022
- LG Electronics R&D spend: 4.5 trillion KRW in 2023
- South Korea ranks 4th in Global Innovation Index 2023 with score 53.0
- Tech PhD graduates: 12,000 annually in 2022
- Corporate R&D tax credit utilization: 12 trillion KRW in 2022
- South Korea's ICT R&D papers published: 150,000 in 2022
- Quantum tech R&D investment: 1 trillion KRW by 2023
- Tech incubators: 400 nationwide in 2023
- Samsung Advanced Institute of Technology filed 5,000 patents in 2022
- South Korea's tech exports R&D intensity: 5.2% of export value in 2023
- Robotics R&D funding doubled to 500 billion KRW in 2023
- Biotech tech fusion R&D: 1.5 trillion KRW in 2023
R&D Interpretation
South Korea is conducting the world's most expensive and meticulous science fair, where the entire nation is a participant determined to patent, scale, and export its way into the future.
Semiconductors
- In 2023, South Korea produced 66.5% of the world's DRAM chips, with Samsung Electronics holding 43.8% global market share and SK hynix 22.7%
- Samsung Electronics supplied 37.3% of global NAND flash memory in Q4 2023, leading the market ahead of SK hynix at 20.1%
- South Korea's semiconductor industry accounted for 20.1% of total national exports in 2023, valued at $128.7 billion
- SK hynix invested $15.5 billion in HBM3E production capacity expansion in 2023 for AI chips
- South Korea holds 19% global market share in logic semiconductors as of 2023, primarily through Samsung Foundry's 3nm process node leadership
- In 2022, South Korea's fab equipment spending reached $20.5 billion, second only to Taiwan globally
- Samsung's advanced node (5nm and below) capacity utilization hit 85% in Q3 2023
- South Korea produced 1.2 million wafers per month in 300mm fabs by end of 2023
- The number of semiconductor engineers in South Korea reached 250,000 in 2023, up 15% YoY
- South Korea's government allocated 2.3 trillion KRW ($1.7 billion) for semiconductor R&D in 2024 budget
- Samsung Electronics' semiconductor division revenue was 76.3 trillion KRW in 2023
- SK hynix's HBM sales grew 300% YoY to $4 billion in 2023
- South Korea's memory chip export price index rose 25% in 2023 due to AI demand
- TSMC and Samsung together control 50% of global foundry capacity under 10nm in 2023, with Samsung at 13%
- South Korea added 5 new semiconductor mega-fabs between 2021-2023
- In 2023, South Korea's semiconductor R&D expenditure was 18 trillion KRW, 25% of industry revenue
- Samsung's EUV lithography adoption rate for 3nm chips reached 100% in 2023 production
- South Korea's share of global semiconductor patents filed in 2022 was 15.2%
- The Pyeongtaek mega-fab cluster produced 30% of Samsung's global memory chips in 2023
- South Korea's semiconductor trade surplus hit $70 billion in 2023
- Samsung holds 45% market share in enterprise SSDs globally as of Q4 2023
- SK hynix's Cheongju fab output increased 40% in 2023 for HBM
- South Korea's 2nm semiconductor development is on track for mass production in 2025, with $230 billion national investment plan
- Global DRAM bit growth shipment forecast for 2024 is 25%, led by South Korea's 70% share
- South Korea imported $25 billion in semiconductor materials in 2023
- Samsung's foundry revenue grew 16% YoY to $15 billion in 2023
- South Korea's semiconductor SMEs number 2,500, contributing 30% to supply chain
- HBM3E bit density increased 16% by SK hynix in 2023 for Nvidia GPUs
- South Korea's cleanroom capacity for semiconductors is 1.5 million sqm in 2023
- Samsung's D1X line in Hwaseong fab ramped to 10% yield for 2nm GAA in late 2023 trials
Semiconductors Interpretation
While South Korea’s economy dances to the tune of semiconductors—supplying two-thirds of the world’s DRAM and fueling an AI gold rush—it’s clear the nation has bet its future, and a staggering $230 billion, on staying the unshakable “memory country” while racing to master the logic frontier.
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