Forecast: Production of Transportation and Warehousing in South Korea

In 2023, the production of transportation and warehousing in South Korea reached 166.74 trillion South Korean Wons, representing a year-on-year increase of 1.57%. The compound annual growth rate (CAGR) over the last five years was 1.56%, indicating a relatively stable growth trend. The COVID-19 pandemic had a significant impact on the industry, with a marked decline in 2020, but it rebounded strongly in 2021 and continued to grow steadily through 2023.

Looking ahead, the forecasted growth rate from 2024 to 2028 is 6.35%, with a projected five-year CAGR of 1.24%. The production is expected to continue its upward trajectory, reaching 179.74 trillion South Korean Wons by 2028.

Trends to watch for:

• Impact of technological advancements, particularly in logistics and automated warehousing.
• Policy changes related to transportation infrastructure and environmental regulations.
• Economic factors influencing global trade and supply chain dynamics.