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Robot

Robot

Domestic and Global Market Size and Status
of Different Types of Robots

Convergence, Technical Expertise, and Strategic Positioning in a Global Market

The robotics industry is a convergent industry that is easy to link with other industries and requires high technical skills. Dominated by a handful of players due to the high entry barrier, top five countries of China, Japan, the United States, Germany, and Korea currently account for 73% of the total market.

Anticipating a Annual Growth in the Robotics Industry

The sales volume of Korean manufacturing robots is expected to grow from KRW 2.86 trillion in 2020 to KRW 3.1 trillion in 2024 by recording an average annual growth rate of 2.1%. In the case of service robots, the demand for medical, cleaning, and logistics robots is increasing due to the spread of the non-face-to-face service market, and the market size is expected to grow from USD 11.1 billion in 2020 to USD 16.2 billion in 2024 by recording an annual growth rate of 10%.

Boosting Competitiveness
Through Technology Integration

Whereas Korea is a follower of Japanese and European companies in the manufacturing robot segment, it is competing by focusing investment in collaborative robots (cobots) while expanding application through convergence with AI and self-driving technologies.
  • Expansion of Existing Robotics Projects

    In the service robot segment, major Korean companies have recently been expanding their investment in robotics by acquiring or buying shares of robotics companies while also applying robotics technologies in existing business models.

  • 3rd Master Plan for
    Intelligence Robots

    The Ministry of Trade, Industry and Energy (MOTIE) established the 3rd Master Plan for Intelligent Robots (2019-2023) after deliberating the plan at the policy council of the Intelligent Robots Development and Distribution Promotion Act and finalized the robotics industry development policy with a vision to join the ranks of the world's top 4 leaders of the robotics industry.

  • Korea’s
    Robotics Industry Clusters

    In order to foster the robotics industry at the regional level, the government has selected main agencies charged with promoting the robotics industry in each local government and is supporting the designation of specialized areas of robotics.

Machinery/Robots/Other Manufacturing PM

Chulsoon Lee

Key Industries Promotion Team

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