In 2012, the Korean machine tool industry generated an output value of $5.71 billion, representing 6.1% of global machine tool production. This marked a slight decline of 0.9% compared to the previous year, yet South Korea remained the fourth largest machine tool producer globally, following China and Japan. On the export front, the country maintained its position as the seventh-largest exporter, with a total export value of $2.55 billion. Despite this, it achieved a notable growth rate of 10.9%, indicating strong international demand for its products.
South Korea also held the fifth position in machine tool imports, with a total import value of $1.49 billion in 2012—a decrease of 16.7% from the prior year. In terms of domestic consumption, the market reached $4.65 billion, reflecting a drop of 11.4% year-on-year, and it ranked as the fifth largest consumer of machine tools worldwide.
The primary products manufactured in South Korea included CNC lathes, which accounted for the largest share of output, followed by machining centers. Punching machines were the third most produced category. In 2012, the output value of CNC lathes declined by 8.6% to 13.4 billion won, while machining centers saw a significant increase of 38.1% to 11.36 billion won. However, the press sector experienced a 12.4% decrease in output.
Korean machine tool users operated across seven major industries. The automotive sector was the largest consumer, accounting for 38.2% of total demand, followed by general machinery (15.9%), metal products (10.3%), and black and non-ferrous metals (8.5%). Electrical and electronic equipment (7.7%), shipbuilding and aerospace (4.6%), and precision machinery (2.2%) also contributed significantly. Together, these sectors accounted for 87.5% of total demand, with the remaining 12.5% coming from other industries. All seven key sectors experienced double-digit declines in demand, with the automotive industry showing the smallest drop and precision machinery the largest.
In terms of orders, South Korea received a total of 35.04 billion won in machine tool orders during 2012, a 19% decrease from the previous year. Domestic orders dropped by 27.8% to 17.27 billion won, while foreign orders fell by 8.1% to 17.77 billion won. The order trends for CNC lathes were highly volatile, while machining centers and punching machines showed more consistent patterns. All three product categories reached their peak in the second quarter and then gradually declined throughout the rest of the year.
Overall, South Korea's machine tool industry has evolved from a fast follower to one of the top four globally. Through continuous innovation and creative strategies, it is now playing a key role in driving the new manufacturing economy.
Ceramic Squat Toilet, Powerful Squat Toilet,Sturdy Squat Potty
Xuzhou Lange New Materials Co., Ltd. , https://www.successleo.com