Revenue of the robot industry South Korea 2016-2019

In 2019, the revenue recorded by companies in the robot industry in South Korea was approximately 9.06 trillion South Korean won. According to the source, this was a 13.5 percent growth compared to the previous year.

Playing catch up

South Korea has displayed a healthy demand of industrial robots, however, most industrial robots purchased were imported from overseas. In contrast to the high utilization of industrial robots, South Korea was not represented among the leading manufacturers of such robots. However, the robot industry was an industry that the government was planning to support and develop as an important facet of Industry 4.0 in the country.

Driven by SMEs

According to a government survey carried out for the South Korean robot industry, the vast majority of robot companies in South Korea were Small-Medium Enterprises (SMEs). These SMEs were not just suppliers or local businesses, but rather a part of the pioneering companies driving the development of the South Korean robot industry. The list of South Korean industrial robot companies that have been awarded robot company of the year, included SMEs, as well as subsidiary companies of large corporations.