Production of audiovisual and broadcasting in South Korea reached 25.411 trillion South Korean Won in 2023, reflecting a year-on-year growth of 2.77%. The historical data shows fluctuations with a significant dip in 2020, followed by a robust recovery in 2021. The average annual growth rate (CAGR) over the last five years has been 2.91%. Forecasts indicate a steady upward trend, with the sector expected to reach 29.021 trillion Won by 2028, driven by a forecasted 5-year CAGR of 2.07%.
Future trends to watch for:
- Increasing investment in digital and streaming platforms.
- Growing popularity of K-content globally.
- Advancements in technology enhancing production quality.
