The number of employees in the iron and steel industry in South Korea in 2023 stood at 73.9 thousand persons. From 2013 to 2019, the number of employees experienced fluctuations, with the highest year-on-year increase of 4.07% in 2014 and notable declines in 2015 and 2016. From 2017 to 2022, the industry showed a trend of gradual stabilization with minor fluctuations, leading to a compound annual growth rate (CAGR) of 0.52% in 2023. The projected growth from 2024 to 2028 is expected to continue this moderate trend, with a forecast 5-year CAGR of 0.24% and an overall growth rate of 1.21%.

Future trends to watch for include:

Impact of technological advancements and automation on workforce size.
Global market demands and export levels affecting employment stability.
Government policies and environmental regulations potentially reshaping the industry.