Government Spending in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2019-24, and forecast to 2029). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Government spending refers to the money spent by the government of a country to provide goods and services to its citizens. It helps to drive economic growth, create employment opportunities, and improve the standard of living for its citizens.
- The South Korean government spending market recorded expenditure of $576.9 billion in 2024, representing a compound annual growth rate (CAGR) of 7.9% between 2019 and 2024.
- The social protection segment accounted for the market's largest proportion in 2024, with a total expenditure of $175.8 billion, equivalent to 30.5% of the market's overall expenditure.
- The expansion of the South Korean government spending market in 2024 was influenced by persistent labor market concerns, particularly regarding youth unemployment and job insecurity in contract-based roles. According to Statistics Korea, the youth unemployment rate stood at 6.8% in April 2024, with underemployment continuing to affect graduates and young professionals.
Scope
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the government spending market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the government spending market in South Korea
- Leading company profiles reveal details of key government spending market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea government spending market with five year forecasts
Reasons to Buy
- What was the size of the South Korea government spending market by value in 2024?
- What will be the size of the South Korea government spending market in 2029?
- What factors are affecting the strength of competition in the South Korea government spending market?
- How has the market performed over the last five years?
- What are the main segments that make up South Korea's government spending market?
Table of Contents
1 Executive Summary
2 Market Overview
3 Market Data
4 Market Segmentation
5 Market Outlook
6 Five Forces Analysis
7 Competitive Landscape
8 Company Profiles
9 Macroeconomic Indicators
10 Appendix
List of Tables
List of Figures
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hanwha Group
- Korea Aerospace Industries Ltd
- Samsung C&T Corp
- GS Engineering & Construction Corp
