Key Market Indicators
SEOUL — Korea's electrical equipment export is poised for significant growth, projected to reach approximately $245 billion by 2028. This marks an increase from around $211 billion in 2023, reflecting an average annual growth rate of 2.4%. Since 1993, the Korean supply of electrical equipment has risen steadily, showing an average yearly increase of 2.8%. On the import front, Korea's electrical equipment imports are expected to climb to roughly $105 billion by 2028, up from nearly $94 billion in 2023. This growth corresponds to a compound annual growth rate (CAGR) of 1.7%. Korean demand for electrical equipment has exhibited consistent growth over the past three decades, with imports increasing at an average annual rate of 2.4% since 1993.
