Between 2013 and 2023, the industrial machinery value-added in South Korea experienced fluctuations. It saw minor declines, particularly from 2016 to 2019 but regained stability in 2020 and consistent growth since 2022. In 2023, it stood at 48.57, reflecting a 1.28% growth year-on-year. Over the last two years (2022-2023), the year-on-year growth has averaged 1.28%, and the 5-year CAGR leading to 2023 was 0.15%.

Future trends to watch for:

From 2024 onwards, the value-added is forecasted to grow steadily, reaching 51.6 by 2028.
A 5-year CAGR of 0.97% is anticipated, reflecting gradual industry expansion.
Innovations in automation and increased investments in smart machinery are expected to drive this growth.