Market value down by almost 2% to KRW1.4 trillion in 2016 due to finalisation of railway equipment deliveries placed in previous years, and lack of new orders
Market dominated by domestic manufacturers, with imports representing just 12% of market value in 2016
Industry mirrors market trends, with turnover down more than 2% to KRW1.7 trillion in 2016, due to slowing exports and lack of new orders in domestic market
Industry expected to see 4% CAGR over 2016-2021, in line with South Korean Government’s plans to upgrade the national railway network, and invest in expansion of country’s high-speed rail network
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