Republic of Korea: Semiconductor Device Market 2025

Semiconductor Device Market Size in Republic of Korea

In 2021, the South Korean semiconductor device market increased by 30% to $X, rising for the second year in a row after two years of decline. In general, consumption enjoyed a prominent expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Semiconductor Device Production in Republic of Korea

In value terms, semiconductor device production fell dramatically to $X in 2021 estimated in export price. In general, production recorded a precipitous slump. The most prominent rate of growth was recorded in 2017 when the production volume increased by 87%. Semiconductor device production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Semiconductor Device Exports

Exports from Republic of Korea

In 2021, shipments abroad of semiconductor devices decreased by -18.1% to X units, falling for the second consecutive year after two years of growth. In general, exports, however, showed a significant increase. The pace of growth appeared the most rapid in 2014 when exports increased by 308% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, semiconductor device exports expanded to $X in 2021. Overall, exports, however, saw prominent growth. The pace of growth was the most pronounced in 2018 with an increase of 145% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

China (X units), Singapore (X units) and Vietnam (X units) were the main destinations of semiconductor device exports from South Korea, together accounting for 57% of total exports. These countries were followed by Taiwan (Chinese), Kuwait, Iran, the United States, Hong Kong SAR and Japan, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +154.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and Vietnam ($X) appeared to be the largest markets for semiconductor device exported from South Korea worldwide, together accounting for 66% of total exports.

Vietnam, with a CAGR of +67.0%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average semiconductor device export price amounted to $X per unit, rising by 28% against the previous year. Over the period under review, the export price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in 2016 when the average export price increased by 38%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the average price for exports to Iran ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (-1.0%), while the prices for the other major destinations experienced a decline.

Semiconductor Device Imports

Imports into Republic of Korea

Semiconductor device imports into South Korea surged to X units in 2021, with an increase of 43% compared with the previous year. Overall, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 257%. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, semiconductor device imports shrank dramatically to $X in 2021. Over the period under review, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 235%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Taiwan (Chinese) (X units), China (X units) and Japan (X units) were the main suppliers of semiconductor device imports to South Korea, together comprising 33% of total imports. Singapore, the United States, Malaysia, Vietnam and Germany lagged somewhat behind, together accounting for a further 8%.

From 2012 to 2021, the biggest increases were recorded for Vietnam (with a CAGR of +48.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of semiconductor devices to South Korea, comprising 60% of total imports. The second position in the ranking was taken by China ($X), with a 4.9% share of total imports. It was followed by Japan, with a 3.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.0% per year) and Japan (-9.2% per year).

Import Prices by Country

In 2021, the average semiconductor device import price amounted to $X per unit, dropping by -47.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 46%. Over the period under review, average import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for Singapore ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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