Forecast: Production of Fabricated Metal Products in South Korea

The production of fabricated metal products in South Korea stood at 115.0 trillion South Korean Wons in 2023. Analyzing the year-on-year variation, there has been a steady increase of 2.02% from 2022 to 2023. Over the last two years, the average variation was 2.06%. The compound annual growth rate (CAGR) over the last five years was 2.53%, indicating a modest yet steady growth despite fluctuations such as the significant dip in 2020.

Future trends to watch for:

• With a forecasted 1.55% CAGR over the next five years, the market is expected to grow, reaching 126.91 trillion South Korean Wons by 2028.

• Technological advancements, global supply chain shifts, and regulatory changes will be critical factors to monitor as they could significantly influence production levels.