Machinery Export of South Korea: The Trade Analysis of 2024

South Korea, based in eastern Asia on the southern part of the Korean Peninsula, bordered by North Korea, the Yellow Sea, and the Sea of Japan in north, west, and east directions, has solidified itself as the topmost exporter of machinery in the international trade market. The surge in the semiconductor’s rise in demand and the government’s support of an industrial strategy, with the rising demand in other machinery niches, has contributed to a substantial growth rate of the machinery exports of South Korea. South Korea Import Data says that the successful expansion of major markets has grown by 6.6%, while the trade agreements within China and the European Union have improved the reliable access to emerging authorities, increasing the competitiveness, and fostering the revenue rate.

The rise in the production of machineries in the industrial sector accompanied by growing global demand, and the latest production rate has resulted in an export trade value of machineries worth 75 billion US dollars in 2024. Import Globals with its South Korea trade data provides a brief overview of the latest evaluation of machinery exported from the nation. Subscribe to Import Globals, a leading data provider to keep yourself updated with the latest trends and strategies of the global market fluctuations.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT OF MACHINERY FROM SOUTH KOREA

Government authorities of South Korea have been continuously implementing several initiatives to foster the trade rate in a positive manner. The semiconductor strategy expansion has encouraged domestic machinery production. It has helped the local companies scale up their production and exports according to the global standards. The export-driven industrial equipment support program has boosted the competitiveness of South Korean machinery makers in specific sectors such as robotics, ship engines, and smart factory equipment.

The digital and smart manufacturing initiative has enhanced South Korea’s machinery quality and global visibility. The FTAs and global market diversification policy have lowered the tariff while increasing the customs procedure for heavy and precision machinery makers. The Global Machinery Export Voucher Programme has also been pivotal as it enables the small and medium enterprises in the machinery sector to access the international markets by building global partnerships.

THE LEADING VARIANTS OF MACHINERY EXPORTED FROM SOUTH KOREA IN 2024

South Korea has been an expert trader of machinery in the global trade market. The diversification in the export portfolio is fostered by the stronger integration with the leading buyers. According to the South Korea Export Data, the top 10 leading variants of machinery exported from the nation in 2024 are,

  1. Semiconductors — The export trade value of Semiconductors from South Korea in 2024–12 billion US dollars
  2. Industrial robots — The export trade value of Industrial robots from South Korea in 2024–9 billion US dollars
  3. Ship engines — The export trade value of Ship engines from South Korea in 2024–8 billion US dollars
  4. CNG Machine tools — The export trade value of CNG Machine tools from South Korea in 2024–6.7 billion US dollars
  5. Electric vehicles — The export trade value of Electric vehicles from South Korea in 2024–5.89 billion US dollars
  6. Display panel production machinery — The export trade value of Display panel production machinery from South Korea in 2024–4.75 billion US dollars
  7. Smart factory equipment — The export trade value of Smart factory equipment from South Korea in 2024–3.75 billion US dollars
  8. Food processing machinery — The export trade value of Food processing machinery from South Korea in 2024–2.86 billion US dollars
  9. Diagnostic equipment — The export trade value of Diagnostic equipment from South Korea in 2024–1.87 billion US dollars
  10. Textile machinery — The export trade value of Textile machinery from South Korea in 2024–1 billion US dollars

TOP 10 EXPORT TRADE PARTNERS OF SOUTH KOREA IN 2024

The closer proximity of South Korea to the emerging traders of machinery and the valuable strategies offered has attracted different trade holders worldwide. According to the South Korea Customs Data, the top 10 export trade partners of the nation for machinery in 2024 are,

  1. China — The annual valuation of machinery exported from South Korea to China in 2024–11 billion US dollars

Top 5 variants of machinery exported

1. Ultrasonic cleaning systems

2. Sewage treatment pumps

3. Dust recovery systems

4. Robotic automation systems

5. Industrial sensors

2. United States — The annual valuation of machinery exported from South Korea to the United States in 2024–8.7 billion US dollars

Top 5 variants of machinery exported

1. Printing machines

2. Ancillary printing equipment

3. Food‑processing machinery

4. Industrial bakery ovens

5. Seeders and planting machines

3. Vietnam — The annual valuation of machinery exported from South Korea to Vietnam in 2024–7.65 billion US dollars

Top 5 variants of machinery exported

1. Air conditioning machines

2. Refrigeration machinery parts

3. Dishwashing machines

4. Industrial washers

5. Household laundry machines

4. Germany — The annual valuation of machinery exported from South Korea to Germany in 2024–6.92 billion US dollars

Top 5 variants of machinery exported

1. Clutches

2. Conveyor trolley chains

3. Industrial conveyor components

4. Refrigerators and freezers

5. Heat pumps

5. Japan — The annual valuation of machinery exported from South Korea to Japan in 2024–5.86 billion US dollars

Top 5 variants of machinery exported

1. Wheel spindles

2. Shafts and yokes for chassis

3. Transmission shafts

4. Bearing housings

5. Gears and gearing sets

6. India — The annual valuation of machinery exported from South Korea to India in 2024–4.78 billion US dollars

Top 5 variants of machinery exported

1. Machining center units working with metal

2. Gear shaping machines

3. Gear cutting machines

4. Metal rolling mills

5. Metal forging machines

7. Mexico — The annual valuation of machinery exported from South Korea to Mexico in 2024–3.91 billion US dollars

Top 5 variants of machinery exported

1. Centrifuges

2. Filtering and purifying machinery

3. Machining centers

4. CNC milling machines

5. CNC drilling machines

8. Indonesia — The annual valuation of machinery exported from South Korea to Indonesia in 2024–2.76 billion US dollars

Top 5 variants of machinery exported

1. Material treatment furnaces

2. Industrial heat treatment machines

3. Air compressors

4. Vacuum pumps

5. Liquid pumps

9. Thailand — The annual valuation of machinery exported from South Korea to Thailand in 2024–2 billion US dollars

Top 5 variants of machinery exported

1. Self‑propelled bulldozers

2. Graders

3. Scrapers

4. Earth‑moving machinery

5. Central heating boilers

10. Netherlands — The annual valuation of machinery exported from South Korea to the Netherlands in 2024–1 billion US dollars

Top 5 variants of machinery exported

1. Nuclear reactors

2. Steam boilers

3. Diesel engines for trains

4. High‑speed rail EMUs

5. Double‑deck electric trains

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