Source: Business Korea
The energy, petrochemical and bio industries have the highest growth potential among South Korea’s top 10 key industries, according to a recent survey.
The survey was conducted by a research group under Professor Ryu Seung-wan from Chung-ang University Business School. The team analyzed South Korea’s top 10 industries and major companies based on the growth prospects of their businesses, level of contribution to the nation’s economic growth, corporate social responsibility, CEO leadership and relations between labor and management.
The survey evaluated both the quantitative aspects, such as market capitalization and sales, and the qualitative aspects, and made use of the survey of 488 college students and office workers in their 20s and 30s conducted for a month from July 15 as a secondary index.
The report suggests that while the South Korean economy has thus far been led by the so-called five key industries, including semiconductor, automobile, steel, shipbuilding and display, the energy, petrochemical and biotech industries need to be watched in view of their characteristics, growth prospects and influence on people's daily lives.
The research team first evaluated the future strategic industry sector in the top 10 industries classified by the Korea Institute for Industrial Economics & Trade (KIET) and analyzed the future value of the top 19 companies in terms of market capitalization on the benchmark KOSPI market from various angles based on it.
As a result, the survey found that the energy, petrochemical and bio industries have the highest growth potential among the nation’s top 10 key industries. Telecommunication and entertainment are also promising industries. On the other hand, the shipbuilding and steel industries, which have been considered South Korea’s traditional key industries, have weak future growth prospects.