Jang Seob Yoon
Research expert covering South Korea
Display industry in South Korea - statistics and facts
With the increased use of electronics in a variety of modern products, the display industry has become an important manufacturing sector. Indeed, expenditure on display panels has peaked in recent years. Additionally, the capacity of active matrix organice light emitting diodes (AMOLEDs) and liquid crystal displays (LCDs) are also forecast to increase in the coming years. South Korea is a major player in the worldwide display industry, and boasts a healthy global market share.
What is the display industry like in South Korea?
South Korea’s display panels remain a multibillion U.S. dollar export commodity despite experiencing a decline in recent years. Such economic success was not limited to the companies that produced only the finished product. Companies that manufactured flat display components also recorded healthy levels of revenue over the years and were projected to continue to do so in the near future. With displays being used in contemporary essentials such as smartphones, the industry appears to have good prospects for the future, especially considering the ongoing digital transformation of the workplace.Who are the leaders of South Korea’s display industry?
As South Korea’s leading company, it is safe to presume that Samsung Electronics would have a stake in the production of a product with such close connections to electronics. Its subsidiary company, Samsung Display, is one of the leading manufacturers of display panels in the country, with fellow conglomerate subsidiary LG Display providing close competition. Much like the domestic semiconductor industry, South Korean display makers are facing fierce competition from global companies for the top spot. China also has a strong presence in the display market, even being the main customer of LG Display products. To keep up with and possibly even overtake rival companies, South Korean manufacturers will have to continue investing in research and development (R&D) activities.
