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Commercial Sectors

The following Best Prospects for U.S. Exports are arranged alphabetically.

• Automotive Parts and Accessories
  In 2005, Korea manufactured 3.5 million automotive vehicles, making it the sixth largest car manufacturer in the world after the U.S., Japan, Germany, China and France. The total size of the automotive parts market was estimated to be USD 50 billion in 2006...

• Broadcasting Service and Equipment
  Starting with terrestrial TV in 2001, digital broadcasting service is slated for full implementation by 2010 in Korea. Driving the development of digital content are new and potentially exclusive channels, basic and premium tier channels, plus on-demand content from domestic and foreign program suppliers...

• CNC Machine Tools
  Korea's market for machine tools has shifted from standard, cost-effective or general products to high-precision, high-speed and high-powered machine tools. In 2005, computerized numerically controlled (CNC) cutting machine tools including lathes, milling machines...

• Computer Software
  The Korean market demand for packaged software, including systems infrastructure software (e.g. operating systems, security software), application software (e.g. Word, Excel, enterprise solution package) and application development/deployment software, was valued at USD 1.0 billion in 2006...

• Cosmetics
  Over the past few years, Korean women have become more receptive to western products, especially foreign health and beauty items. As more Korean women enter the labor force and experience rising incomes, they have become avid users of imported cosmetics, yielding significant gains for U.S. suppliers...

• Defense Industry Equipment
  The Republic of Korea (ROK) is currently seeking to modernize its armed forces to a level commensurate with its economic strength. The ROK is in need of significant materiel modernization and replacements that will involve major investments...

• Drugs and Pharmaceuticals
  The Korean market, the 12th largest pharmaceutical market in the world, was valued at USD 7.7 billion in 2005. According to industry sources, Korean market demand for pharmaceuticals is estimated to have grown by 11 percent in 2006 to reach USD 8.5 billion...

• Education and Training Services
  Korea's education market plays a significant role in the country's overall economy and offers exceptionally good opportunities for the U.S. education sector. According to the OECD, Korea invests almost seven percent of its GDP on education, among the highest for developed countries in 2005...

• Electrical Power Systems
  Korea's ambitious energy program will provide great opportunities for electrical power systems manufacturers over the next few years. The U.S. continues to be the leading import supplier of major equipment such as turbines, generators, and nuclear reactors. However, future sales could be influenced by European and Japanese competitors who are becoming increasingly significant in the market...

• Engineering Services
  In 2005, Korea’s spending on government infrastructure projects was estimated to be USD 32 billion. Korean residential construction was estimated to be USD 45 billion while Korean investment in commercial/industrial facilities stood at USD 27 billion. In 2006, the size of these construction markets is forecast to slightly increase 0.4%...

• Medical Equipment and Devices
  One of the largest Asian markets for medical devices, the Korean market was valued at USD2.5 billion in 2005 and is expected to increase to approximately USD2.8 billion in 2006...

• Pollution Control Equipment
  U.S. Commercial Service Korea estimates the size of pollution control equipment industry at USD 6 billion in 2005...

• Radio Frequency Indentification Technology
  There is strong demand in the Korean market for Radio Frequency Identification (RFID) technology that includes various new applications in supply chain management, security, transportation and the healthcare industry...

• Security Services and Products
  In 2006, the overall size of Korea's security industry, including equipment and services, was estimated to be USD2.15 billion. Provision of security guard services continued to account for over 50 percent of the total security market following by leased and installed security equipment, which accounted for 25 percent of the market...

• Specialty Chemicals
  In 2005, the total market size of Korea's specialty chemicals was USD25.8 billion, a seven percent increase over 2004...

• Travel and Tourism
  Koreans' rapidly rising GDP, their gradual increase in leisure time, heightened globalization, and greater awareness and interest in developments outside the Korean peninsula are spurring their interest in international travel. Korea's per capita GDP has risen to almost USD 16,291...

• Wireless Broadband Equipment and Services
  Korea ranks among the top countries in the world for internet usage and broadband penetration and has the highest number of broadband subscribers among all OECD countries...