The output of sewerage and waste management in South Korea has shown a consistent upward trend from 2015 to 2023, increasing from 12.732 trillion South Korean Wons in 2015 to 17.825 trillion South Korean Wons in 2023. Despite a dip in 2020, the overall trajectory remains positive, with a year-on-year increase of 1.78% in 2023 and a CAGR of 1.47% over the last five years.

Key Observations:

2015-2019: Marked by a steady annual growth with notable peaks in 2016 (6.15%) and 2017 (11.66%).
2020: Experienced a notable decline of 4.67% due to unforeseen disruptions.
2021-2023: Recovery phase with a year-on-year increase of 7.21% in 2022 followed by a moderate 1.78% rise in 2023.

Future Trends to Watch For:

The forecast from 2024 to 2028 suggests a continuous, albeit moderate, growth with a forecasted CAGR of 1.39%.
Environmental policies and technological advancements are likely to drive efficiency and expansion within the sector.
The increasing urban population may lead to higher demands in waste management services.