Forecast: Number of Persons Employed in Transportation and Warehousing in South Korea

The number of persons employed in transportation and warehousing in South Korea witnessed minimal annual variations from 2013 to 2023, with a slight decrease in 2017. As of 2023, the employment stood at 1.47 million persons, reflecting a steady but slow upward trend in recent years. Specifically, the sector showed a modest increase from 1.43 million in 2013 to 1.47 million in 2023.

Year-on-year variation averaged around 0.74% over the last two years, highlighting a stable growth rate. Meanwhile, the compound annual growth rate (CAGR) over the last five years was 0.89%, indicating a low but steady increase in employment.

Looking ahead, forecast data suggests a continuation of this trend, predicting a gradual rise to 1.52 million by 2028, with a 5-year CAGR projected at 0.54%. Future trends to watch for include technological advancements, shifts in global trade, and potential economic impacts on the sector.