Electronics industry prepares for growing demand
27. August 2020The South Korean electronics industry is preparing for increasing demand after an improvement of the coronavirus situation. Managers from the industry expect an increase starting from the second half of 2020. Experts from the semiconductor, display, telecommunications and battery industries met recently at an event organized by the Korean Chamber of Commerce to prepare for the market situation after the coronavirus. The participants agreed that the industry can only benefit from the new opportunities and sales markets if they are well prepared.
Industry experts expect a change in production towards content, services and new technologies based on video conferencing and remote maintenance without physical contact. As a result, demand for semiconductors and displays will increase dramatically in the second half of 2020. “In a scenario where the spread of the virus in the US and Europe is declining, there will be no negative impact on the semiconductor industry,” said Song Myung-seob, an analyst at Hi Investment & Securities. He also predicted an increase in demand for IT equipment, from which the semiconductor industry can benefit and recover from the setbacks.
Production of LCD displays in China will also return to normal in the second half of the year and eliminate the current bottlenecks, according to analysts. Demand is also expected to rise for lithium batteries and electronic devices from the healthcare sector for use at home. Despite the restrictions imposed by Covid-19, the market for electric vehicles is growing and Korean manufacturers should catch up with their Chinese competitors, said Kim Ji-san, an analyst at Kiwoom Securities. He predicts that the robotics market will also grow in addition to health and hygiene-oriented electronic devices.
South Korea is considered one of the most important and innovative industrial nations in the world. To gain market access to this highly technological country, many products imported into South Korea must be tested and certified. The KC-Mark or KC certificate corresponds approximately to the European CE mark and applies to 730 different products, including many electronic products. Since 2005, MPR International has been supporting companies worldwide in the certification of products for the markets of Korea, China, Taiwan and India. MPR International offers you a complete package for certification in which you are excellently supported. We are available to you at any time for questions without obligation.
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