The production value for publishing, audiovisual, and broadcasting activities in South Korea has shown steady growth from 2013 to 2022, with some fluctuations. From 2013 to 2022, the year-on-year variation ranged from 6.27% in 2013 to -13.89% in 2020; a sharp decline due to potential market disruptions. The highest growth was observed in 2021 with an increase of 27.24%. The Compound Annual Growth Rate (CAGR) over the last five years is approximately 3.18%. Looking ahead, the forecast for the next five years indicates a CAGR of 2.34%, forecasting a 12.25% total growth rate from 2023 to 2028.
Future trends to monitor include the impact of digitization on content consumption, increasing investments in original content creation, and advancements in technology such as AI and AR/VR, which could further drive the industry's growth. Additionally, market players should keep an eye on consumer behavior shifts and potential regulatory changes impacting the media landscape in South Korea.
