The South Korea semiconductor market reached around USD 115.69 Billion in 2024. The market is projected to grow at a CAGR of 7.90% between 2025 and 2034, reaching almost USD 247.46 Billion by 2034.
Base Year
Historical Period
Forecast Period
In February 2024, South Korea witnessed a 65.3% surge in semiconductor production, the highest since late 2009.
South Korea accounts for 60% of the global production of NAND and DRAM memory chips.
Major market players seek to boost wafer production capabilities to overtake TSMC and strengthen domestic supply chains.
Compound Annual Growth Rate
7.9%
Value in USD Billion
2025-2034
South Korea Semiconductor Market Outlook
*this image is indicative*
South Korea exported $129 billion of semiconductor goods in 2022, which constituted nearly 19% of its overall exports. As the United States and China bolster their investment plans and revise their legal frameworks for semiconductor production, South Korea is expected to introduce various initiatives to increase the competitiveness of the market. This includes an investment worth $470 billion for establishing the world’s largest mega cluster for semiconductors, in partnership with SK Hynix and Samsung Electronics. Spread across an area of 52,000 acres, this facility is expected to consist of several R&D and production facilities for semiconductors.
Increasing production of AI chips is expected to emerge as one of the key market trends. Emerging technologies such as generative AI are likely to propel the demand for system semiconductors in South Korea. To boost its global competitiveness, South Korea is making investments worth $6.8 billion by 2027 to expand its production capabilities and overcome its technological inefficiencies when compared with American and Chinese semiconductor chips. South Korean chips’ technology level lags behind American chips, accounting for only 86.0% of the 100% efficiency provided by the latter. Hence, technological advancements are likely to bolster the market in the coming years.
South Korea Semiconductor Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Component
Market Breakup by Application
Based on application, the market is categorised into automotive, industrial, data centre, telecommunication, consumer electronics, aerospace and defence, and healthcare, among others. Industrial application of semiconductors is expected to dominate the market in the forecast period as South Korea strives to become a leading country for advanced technology and tries to bridge the gap existing between its technology level with those of countries like the USA and China.
The report provides a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers and acquisitions, investments, and capacity expansion.
Major players in the market are engaging in research and development activities to drive advancements and innovations in semiconductor technology.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market was valued at nearly USD 115.69 Billion in 2024.
The market is projected to grow at a CAGR of 7.90% between 2025 and 2034.
The market is assessed to witness a healthy growth in the forecast period of 2025-2034 to reach around USD 247.46 Billion in 2034.
The different components of semiconductors include the memory devices, logic devices, analogue IC, OSD, and micro-component.
The different applications of semiconductors are automotive, industrial, data centre, telecommunication, consumer electronics, aerospace and defence, and healthcare, among others.
The key market players are Samsung Electronics Co., Ltd., SK HYNIX INC., DB HITEK, Magnachip Semiconductor Corporation, and LS ELECTRONIS, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Component |
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| Breakup by Application |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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