The value-added by the publishing industry in South Korea has shown steady growth over the years, standing at 3.6901 trillion South Korean Wons in 2023. The year-on-year variation was 1.21% in 2023, slightly down from 1.25% in 2022. Over the last five years, the compound annual growth rate (CAGR) was 1.15%, indicating modest growth. Historically, the growth was higher in the earlier years, with notable year-on-year increases of 7.55% in 2016 and 5.47% in 2017.
From 2024 onwards, forecasted data suggest a continued but slower growth trend, with a forecasted 5-year CAGR of 0.87% and an overall growth rate of 4.4% by 2028. Future trends to watch for include the impact of digital transformation on traditional publishing, emerging new media platforms, and changes in consumer reading habits driven by technology advancements.
