The value added in radio broadcasting in South Korea stood at 60.98 billion South Korean Wons in 2023. The sector has exhibited overall growth over the past decade, with fluctuations affecting the rate of increase. Between 2013 and 2023, the average annual growth rate was approximately 2.8%. The last two years showed consistent modest gains, with year-on-year variations of 2.4% and 2.3% in 2022 and 2023 respectively. Forecasts from 2024 onward project a continued but slowing growth pattern, with a CAGR of 1.59% over the next five years and an expected total growth rate of 8.2% by 2028.

Looking ahead:

Watch out for digital transformation and its impact on traditional radio broadcasting value.
The rise of podcasting and streaming services could influence future value trends.
Shifts in advertising revenues and consumer preferences towards on-demand content should be monitored.