The market is dominated by domestic suppliers, as imports account for 14.3% of total market size in 2023. B2B drives market demand, with B2B spending representing 100.0% of total demand in 2023. South Korea has the fourth largest market size for basic iron and steel regionally, with demand reaching USD144 billion in 2023. Posco Co Ltd is the largest company in South Korea, generating 18.6% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 36.0% of total production value in 2023. The total number of companies decreases in 2023, to 4,968 units. The costs of the industry decrease by 1.5% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 12.5% of production value in 2023, the 16th highest regionally. The industry’s exports share decreases in 2023 to 18.4% of total production output. With production value of USD139 billion, South Korea accounts for 7.5% of the Asia Pacific total in 2023.
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This Euromonitor industrial report provides unique information on Basic Iron and Steel in South Korea: ISIC 271. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Basic Iron and Steel in South Korea: ISIC 271 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of basic iron and steel, basic preciuos and non-ferrous metals, casting of metals, coating of metals and mechanical engineering, forming of metal and power metallurgy, metal packaking, wire and other fabricated metal products.
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