South Korea Robotics Industry
The Korean robotics industry experienced significant growth in recent years, driven by machine learning, advancements in artificial intelligence (AI), and sensor technologies. Korea has the world’s highest robot density with 1,012 installed robots per 10,000 manufacturing workers which is more than six times the global average, according to the International Federation of Robotics (IFR). Korea seeks an accelerated convergence of robots and AI across industries to address shrinking working-age populations, to reduce hazardous labor environments, and to increase product efficiency.
Korea is at the forefront of robotics innovation, with its government investing heavily in research and development to drive technological advancements. In January 2024, the Ministry of Trade, Industry and Energy (MOTIE) announced the Fourth Intelligent Robot Basic Plan (2024-2028) aiming to invest over US$2.24 billion in the public and private sectors by 2030. This initiative outlines the development direction for the robot industry across key industries, ranging from manufacturing to services, agriculture, logistics, healthcare, defense, and social safety. It includes the goal to establish an efficient system for securing technology to raise the local manufacturing rate of core robot parts from the current 44 percent to 80 percent by 2030 and improve or eliminate 51 regulatory obstacles. In accordance with the Promotion of Development and Deployment of Intelligence Robots Act, the MOTIE will update the basic plan every five years to ensure the continuous advancement of the robot industry.
U.S. companies can find market opportunities in Korea as the robotics market is poised for substantial growth, driven by the increasing adoption in a wide array of robotic applications, including industrial robots, service robots, medical robots, and autonomous vehicles. Manufacturing robots account for 50 percent of the Korean robot market, leading the market growth. The share of service robots stands at 16 percent, but it has entered an explosive growth stage. Korea imports a large share of high-tech industrial robot components from overseas. With government plans, Korea will concentrate on eight core technologies: servomotors, controllers, reducers, sensors, grippers, autonomous movement software, autonomous operation software and human-robot interaction systems for various robot applications.
U.S. suppliers in this sector should sign up for the upcoming Supply Chain Commercial Dialogue Robotics Industry Showcase webinar in December 2024! Registration will open in November 2024.
For more information contact the U.S. Commercial Service in South Korea:
Jessica Son, Senior Commercial Specialist, Email: jessica.son@trade.gov