Leading memory chip makers, like Samsung Electronics and SK Hynix, are based in South Korea. In fact, the Korean economy is mostly driven by the semiconductor industry; this sector contributed 5.9% of GDP in 2018. Microchips are usually used for data storage or data processing. Furthermore, this pandemic has resulted in shortage of auto chips. So South Korea's economy has greatly benefited by its capacity to generate this kind of technology, especially this pandemic.
With hybrid vehicles on the rise and South Korea at the forefront of the industry, major brands like KIA and Hyundai were among the most exported hybrid vehicles worldwide. As a result, the amount of exports increased in both volume and value for the first time in nine years, jumping 8.6% to 2.05 million units.
The export of automotive components also increased 22.2 percent to $22.78 billion as a result of the strong global vehicle sales!
Its second hand or used car sales is also a good business opportunity to start here in the Philippines, largely contributing to South Korea’s good craftsmanship and fair price!
One of the top nations for shipbuilding is Korea. In order to become more competitive internationally, Korean shipbuilders have already developed technology with an emphasis on high added values. The top ten shipbuilders in the world include six Korean companies. Samsung, Daewoo, and Hyundai are the top three players globally. In recent years, the major Korean shipbuilders have concentrated heavily on value-added ships such as LNG (Liquid Natural Gas) carriers, ultra-large container ships, and drilling ships. Today, Korea is the world's top country for LNG construction.