South Korea

South Korea is an easy place to do business. It has a highly competitive economy, thanks to a well-developed physical and ICT infrastructure. However, the South Korean government exerts significant control in key sectors, and large family-owned ...

Overall, the growth rate of in-car entertainment is expected to record a negative CAGR over the forecast period as major car manufacturers continue to install premium in-dash navigation devices, media players and car speakers as original equipment in...

Overall, the unit sales of computer are expected to see a negative growth rate over the forecast period due to maturity. Players are therefore turning to premium desktops and laptops, like gaming computers, because the prices are higher than for ...

The quality of sound with small size home audio equipment and decreasing overall economic growth are influencing home audio and cinema sales. Digital media player docks had previously been popular, but, with the introduction of wireless speakers and ...

Televisions is expected to record positive growth rates thanks to bigger screens, high definition quality, AI and slimmer models as technological innovations continue driving improvements. Consumers keep looking for bigger a screen size, with the ...

Digital cameras is expected to continue declining over the forecast period due to continued development of smartphone cameras – which means digital camera users want small models that still produce high-quality pictures. Faced with stagnating growth ...

Over the forecast period, sales of smartphones are expected to stagnate due to the high penetration rate, longer replacement cycle and expensive prices. This will be despite 5G smartphones, foldable phones and brand new versions of smartphones like ...

Consumer electronics manufacturers introduced high-value and innovative products as the overall market growth rate slowed down in 2019. Premium products were targeted to offset any loss of profits from the decreasing volume growth rates, with gaming ...

Smart speakers is expected to consistently record positive growth, thereby increasing the sales of wireless speakers. Typical smart speakers tend to be used mostly for delivering only sound and are controlled by a voice assistant system. In April ...

Smart wearables are widely using for analysing personal health, such as monitoring stress, calories and cardiotachometry. Such functions are one of the major reasons why these products are attractive to consumers, especially senior citizens. ...

The catering sector recorded faster growth in 2018, of 4%, thanks to rising consumer disposable incomes and changing consumer lifestyles. Disposable income growth was, however, slower and there was a decline in the consumer confidence index, but a ...

Amidst a slowing economic environment in South Korea, the retail and wholesale industry has seen steady growth, and is anticipated to maintain this trajectory over the forecast period. Consumerist culture among South Koreans is strong, therefore, ...

Growth in South Korean leisure spending slowed in 2018, reflecting a weaker economic performance in the country. In addition, South Korean households have accumulated debts due to high consumption levels in previous years, and have thus become more ...

South Korea’s healthcare and social service industry saw steady growth in 2018, in the light of a continued rise in the number of people in need of healthcare services and products. The rising number of elderly beneficiaries of national health ...

Government and membership organisations’ turnover grew further in 2018, continuing a long-term trend. South Korea was successful in increasing public organisation revenues during the year, thanks to a change in government policy towards greater ...

South Korean consumers faced a difficult economic environment in the latter part of the review period, which forced them to limit expenditure on personal services in 2018. During the year, growth in the domestic economy slowed due to a rise in ...

In 2018, enrolment rates in South Korean educational institutions declined further, due to the continuously falling birth rate and thus a shrinking school-age population. Nevertheless, the industry posted positive growth, given the continued ...

The measures that have been initiated to cap mortgage lending and restrain the rise in property prices continued to take a toll on residential construction in 2018. A rise in the minimum wage has contributed to rising unemployment, as the increase ...

South Korean business services expenditure was lifted primarily by the growing R&D category, which was by far the largest sector in the industry in 2018. This is explained by the country’s significant reliance on technologically advanced ...

The South Korean motor vehicles and parts industry declined for the third consecutive year in 2018. Over the year, production volume of passenger and commercial vehicles fell by 2%, to 4.0 million units. Weak demand in export markets and rising ...