In 2023, South Korea's import of photosensitive, photovoltaic, and LED semiconductor devices stood at 3.07 billion US dollars. The forecasted data for 2024 shows an import value of 3.121 billion US dollars, representing a year-on-year increase of approximately 1.66%. This positive trend continues, with import values projected to rise by 1.93% in 2025, 1.86% in 2026, 1.79% in 2027, and 1.72% in 2028, reaching 3.3554 billion US dollars. Over the five-year period, the compound annual growth rate (CAGR) is approximately 1.79%, indicating steady growth in the import market.
Future trends to watch for:
• Advancements in semiconductor technology and increased demand for energy-efficient devices may drive import volumes further.• The potential impact of supply chain disruptions or trade policies on import values.• Innovations in alternative energy sources, impacting the demand for photovoltaic devices.
