History of General Machinery Industry
In 2024, employment in the general machinery industry reached approximately 342,000 workers, accounting for 11.3% of total manufacturing employment and ranking third among manufacturing industries.
In the 1970s, when the manufacturing sector was largely dominated by textiles and apparel, employment in the general machinery industry stood at about 26,000 workers, representing only 3.1% of total manufacturing employment. However, driven by the development of Korea’s machinery industry, employment in the sector increased nearly thirteenfold to around 340,000 workers by 2024
Employment rate of manufacturers of general machinery industry
| 1970 | 1980 | 1990 | 2000 | 2005 | 2010 | 2015 | 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of employees | 26,309 | 81,108 | 199,004 | 209,127 | 245,386 | 282,127 | 315,282 | 335,241 | 340,489 | 345,833 | 347,018 | 342,262 |
| (share,%) | 3.1 | 4.0 | 6.6 | 9.0 | 10.0 | 10.7 | 10.7 | 11.5 | 11.6 | 11.6 | 11.7 | 11.3 |
- ※ (Source) STATISTICS KOREA
- 1) Since 2016, data is based on the 10th revision of the Korea Standard Industrial Classification (KSIC) (same applies hereafter).
- 2) Mining and Manufacturing Survey: Based on establishments with 10 or more employees (same applies hereafter).
- 3) Share (%) represents the proportion relative to the total manufacturing sector.
- 4) Data prior to 2019 are based on a survey-based dataset covering establishments with a physical business location. Data from 2020 onward are based on a register-based dataset, which supplements survey data with administrative records
Number of Workers by Industry(2-digits, 5 or More WORKERS)(2024) No. of Employment, %
| CODE | Sector | Number of employees | Share (%) | Rank | Number of companies | Share (%) | Rank |
|---|---|---|---|---|---|---|---|
| C | Manufacturing business(10 ~ 33) | 3,037,018 | 100 | - | 73,570 | 100 | - |
| C10 | Manufacture of Food products | 252,568 | 8.3 | 5 | 6,833 | 9.3 | 3 |
| C11 | Beverage manufacturing industry | 16,116 | 0.5 | 22 | 277 | 0.4 | 23 |
| C12 | Cigarette manufacturing industry | 2,809 | 0.1 | 25 | 10 | 0.0 | 25 |
| C13 | Textile goods manufacturing industry; except clothing | 64,052 | 2.1 | 14 | 2,513 | 3.4 | 12 |
| C14 | Clothes, accessories and fur goods manufacturing industry | 44,478 | 1.5 | 16 | 1,920 | 2.6 | 14 |
| C15 | Leather, bag and shoes manufacturing industry | 10,698 | 0.4 | 24 | 437 | 0.6 | 22 |
| C16 | Wood and wooden product manufacturing industry | 18,290 | 0.6 | 21 | 841 | 1.1 | 19 |
| C17 | Pulp, paper and paper product manufacturing industry | 61,078 | 2.0 | 15 | 1,985 | 2.7 | 13 |
| C18 | Printer and recording media reproduction service | 26,212 | 0.9 | 19 | 1,157 | 1.6 | 17 |
| C19 | Coke, coal and oil-refined products manufacturing industry | 12,866 | 0.4 | 23 | 157 | 0.2 | 24 |
| C20 | Chemical substances and products manufacturing industry; except drugs | 157,803 | 5.2 | 9 | 3,496 | 4.8 | 7 |
| C21 | Medical substance and drug manufacturing industry | 65,961 | 2.2 | 13 | 733 | 1.0 | 20 |
| C22 | Rubber and plastic goods manufacturing industry | 205,430 | 6.8 | 7 | 6,253 | 8.5 | 4 |
| C23 | Nonmetal mineral product manufacturing industry | 85,269 | 2.8 | 12 | 2,867 | 3.9 | 10 |
| C24 | Primary metal manufacturing industry | 148,847 | 4.9 | 10 | 3,202 | 4.4 | 9 |
| C25 | Metal processing products manufacturing industry; except machines and furniture | 256,127 | 8.4 | 4 | 9,752 | 13.3 | 2 |
| C26 | Electronic components, computers, audio, visual, communication device manufacturing in | 347,086 | 11.4 | 1 | 3,436 | 4.7 | 8 |
| C27 | Medical, precision, optical instruments and clocks manufacturing industry | 106,492 | 3.5 | 11 | 2,797 | 3.8 | 11 |
| C28 | Electrical equipment manufacturing industry | 212,899 | 7.0 | 6 | 4,896 | 6.7 | 6 |
| C29 | Other machines and devices manufacturing industry | 342,262 | 11.3 | 3 | 10,275 | 14.0 | 1 |
| C30 | Automobile and trailer manufacturing industry | 343,170 | 11.3 | 2 | 4,899 | 6.7 | 5 |
| C31 | Other transportation equipment manufacturing industry | 166,704 | 5.5 | 8 | 1,736 | 2.4 | 15 |
| C32 | Furniture manufacturing industry | 28,346 | 0.9 | 18 | 1,340 | 1.8 | 16 |
| C33 | Other products manufacturing industry | 25,950 | 0.9 | 20 | 1,072 | 1.5 | 18 |
| C34 | Maintenance and repair services of industrial machinery and equipment | 35,505 | 1.2 | 17 | 686 | 0.9 | 21 |
- ※ (Source) STATISTICS KOREA
Statistics for Machinery Production and Added Value in Korea
The general machinery industry recorded growth exceeding the manufacturing average, serving as a key driver of Korea’s manufacturing expansion in the 2000s.
Since 2000, the annual average growth rate of the general machinery industry has been 8.5% in production, 7.6% in value added, exceeding each manufacturing industry by 0.9% p and 0.7% p, respectively.
Since 2000, the annual average growth rate of the general machinery industry has been 8.5% in production, 7.6% in value added, exceeding each manufacturing industry by 0.9% p and 0.7% p, respectively.
The Gross Output, Value-added of General Machnery Industry*Unit : trillion KRW, %
| 2000 | 2004 | 2008 | 2010 | 2012 | 2014 | 2016 | 2018 | 2020 | 2022 | 2023 | 2024 | CAGR ('00~'24) |
||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Output | Manufacturing(A) | 534.5 | 749.1 | 1,123 | 1,334.8 | 1,511.5 | 1,489.2 | 1,415.1 | 1,576.0 | 1,502.5 | 2,073.8 | 1,995.9 | 2,091.7 | 5.8 |
| General Machinery(B) | 32.8 | 51.7 | 79 | 92.3 | 102.1 | 102.4 | 101.1 | 123.3 | 117.8 | 150.3 | 155.0 | 149.8 | 6.5 | |
| (B/A) | (6.1) | (6.9) | (7.0) | (6.9) | (6.8) | (6.9) | (7.1) | (7.8) | (7.8) | (7.2) | (7.8) | (7.2) | (0.6) | |
| Value-added | Manufacturing(A) | 205.2 | 281.6 | 367.6 | 435.3 | 480.7 | 484.5 | 504.3 | 565.2 | 554.5 | 722.3 | 672.6 | 749.1 | 5.5 |
| General Machinery(B) | 13.4 | 20.1 | 29 | 33.6 | 36 | 37.3 | 39.3 | 46.7 | 45.3 | 54.5 | 56.6 | 57.7 | 6.3 | |
| (B/A) | (6.5) | (7.1) | (7.9) | (7.7) | (7.5) | (7.7) | (7.8) | (8.3) | (8.2) | (7.5) | (8.4) | (7.7) | (0.7) |
- ※ Source: Statistics Korea
- 1) No. of Employment 10 or more workers
- 2) Data prior to 2019 are based on a survey-based dataset covering establishments with a physical business location. Data from 2020 onward are based on a register-based dataset, which supplements survey data with administrative records