Metals, Machinery & Engineering

The steel industry is the nation’s key industry with high impact on the inter-industries and has played a crucial role in the economic growth of Korea by steadily providing materials to demand industry such as automobile, shipbuilding and construction. The steel industry has been trying to increase the self-sufficiency in steel and to improve the balance of trade by raising the export.
The Korea Iron & Steel Association foresees a modest 3% growth in domestic demand this year to some 57.1 million metric tons, thanks to a brighter outlook for construction, while demand from the key auto manufacturing and shipbuilding sectors will remain largely flat.

Also, Korea's machine tools industry has grown remarkably. In case of the Korean machine tools industry, companies are producing various kinds of products in a small amount. Therefore, organic distribution of capital is much hampered and, as a result, countless small and medium companies are maintaining their businesses without much order. Therefore, an oligopolistic market structure dominated by large companies has been formed.

Kompass Business Directory
With over 2,000 South Korean companies registered in the Kompass B2B worldwide database, the Metals, Machinery & Engineering sector represents large activity sectors within our database. This family includes metalworking, engines, pumps, machine-tools, metal and plastic machining contractors, etc.
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Metals, Machinery & Engineering

South Korea

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