The economy of South Korea is a highly developed mixed economy. By nominal GDP, the economy was worth ₩2.24 quadrillion. It has the 4th largest economy in Asia and the 14th largest in the world as of 2024. South Korea is notable for its rapid economic development from an underdeveloped nation to a developed, high-income country in a few generations. This economic growth has been described as the Miracle on the Han River, which has allowed it to join the OECD and the G20. It is included in the group of Next Eleven countries as having the potential to play a dominant role in the global economy by the middle of the 21st century. Among OECD members, South Korea has a highly efficient and strong social security system; social expenditure stood at roughly 15.5% of GDP. South Korea spends around 4.93% of GDP on advance research and development across various sectors of the economy.
The chemical industry comprises the companies and other organizations that develop and produce industrial, specialty and other chemicals. Central to the modern world economy, it converts raw materials into commodity chemicals for industrial and consumer products. It includes industries for petrochemicals such as polymers for plastics and synthetic fibers; inorganic chemicals such as acids and alkalis; agricultural chemicals such as fertilizers, pesticides and herbicides; and other categories such as industrial gases, speciality chemicals and pharmaceuticals.
Polystyrene (PS) is a synthetic polymer made from monomers of the aromatic hydrocarbon styrene. Polystyrene can be solid or foamed. General-purpose polystyrene is clear, hard, and brittle. It is an inexpensive resin per unit weight. It is a poor barrier to air and water vapor and has a relatively low melting point. Polystyrene is one of the most widely used plastics, with the scale of its production being several million tonnes per year. Polystyrene is naturally transparent, but can be colored with colorants. Uses include protective packaging, containers, lids, bottles, trays, tumblers, disposable cutlery, in the making of models, and as an alternative material for phonograph records.
A thermoplastic, or thermosoftening plastic, is any plastic polymer material that becomes pliable or moldable at a certain elevated temperature and solidifies upon cooling.
The Hyundai Motor Group is a South Korean chaebol headquartered in Seoul, South Korea.
The semiconductor industry is the aggregate of companies engaged in semiconductor devices, such as transistors and integrated circuits. It formed around 1960, once the fabrication of semiconductor devices became a viable business. The industry's annual semiconductor sales revenue has since grown to over $481 billion, as of 2018.
Hyundai Hysco Co., Ltd. was a steel company of Hyundai Motor Group, headquartered in Ulsan, South Korea. Hysco produced automotive steel sheet products and various steel pipes. The company was merged with Hyundai Steel in July 2015.
Hyundai Steel Co., Ltd, or HSC is a steel making company headquartered in Incheon and Seoul, South Korea, and a member of the Hyundai Motor Group. It manufactures a wide variety of products ranging from H-beams, rail and reinforcing bars, to hot coil, cold-rolled steel, and stainless cold-rolled sheet.
The automotive industry in India is the world's fourth-largest by production and valuation as per 2022 statistics. As of 2023, India is the 3rd largest automobile market in the world in terms of sales.
Sumitomo Electric Industries, Ltd. is a manufacturer of electric wire and optical fiber cables. Its headquarters are in Chūō-ku, Osaka, Japan. The company's shares are listed in the first section of the Tokyo, Nagoya Stock Exchanges, and the Fukuoka Stock Exchange. In the period ending March 2021, the company reported consolidated sales of US$26,5 billion.
Polybutylene (polybutene-1, poly(1-butene), PB-1) is a polyolefin or saturated polymer with the chemical formula (CH2CH(Et))n. Not be confused with polybutene, PB-1 is mainly used in piping.
Plastic pipe is a tubular section, or hollow cylinder, made of plastic. It is usually, but not necessarily, of circular cross-section, used mainly to convey substances which can flow—liquids and gases (fluids), slurries, powders and masses of small solids. It can also be used for structural applications; hollow pipes are far stiffer per unit weight than solid members.
The automotive industry in Pakistan is one of fastest-growing industries in the country, growing by 171% between 2014 and 2018. It accounts for 3% of Pakistan's GDP and employed a workforce of over 3.5 million people as of 2018. Pakistan is the 23rd largest producer of automobiles. Its contribution to the national exchequer is nearly Rs. 50-billion. Pakistan's auto market is among the fastest growing in Asia. 269,792 cars were sold in 2018, but this number declined to 186,716 in 2019 due to austerity measures. In the 1990s and early 2000s, Pakistan had many Japanese cars. With the launch of the first Auto Policy in 2005, Pakistan launched its first indigenous car, Adam Revo. However, after the 2008 elections, the dollar started depreciating, and due to bad governance, many automakers began to halt production, with some exiting Pakistan. Currently, the auto market is dominated by Honda, Toyota, and Suzuki. However, on 19 March 2016, Pakistan passed a second "Auto Policy 2016-21," which offers tax incentives to new automakers to establish manufacturing plants in the country. In response, Renault, Nissan, Proton Holdings, Kia, SsangYong, Volkswagen, FAW, and Hyundai have expressed interest in entering the Pakistani market. MG JW Automobile Pakistan has signed a memorandum of understanding (MoU) with Morris Garages (MG) Motor UK Limited, owned by SAIC Motor, to bring electric vehicles to Pakistan. NLC signed an agreement with Mercedes-Benz to manufacture Mercedes Actros trucks in Pakistan. Pakistan has not enforced any automotive safety standards or model upgrade policies. A few older vehicle models, including the Bolan and Ravi, continue to be sold by Suzuki. On 8 July 2021, Jolta Electric launched the production of electric motorcycles.
Hyundai's Kappa automobile engine series consists of three-cylinder and four-cylinder models.
Plastics are a wide range of synthetic or semi-synthetic materials that use polymers as a main ingredient. Their plasticity makes it possible for plastics to be molded, extruded or pressed into solid objects of various shapes. This adaptability, plus a wide range of other properties, such as being lightweight, durable, flexible, and inexpensive to produce, has led to their widespread use. Plastics typically are made through human industrial systems. Most modern plastics are derived from fossil fuel-based chemicals like natural gas or petroleum; however, recent industrial methods use variants made from renewable materials, such as corn or cotton derivatives.
The automotive industry in Bangladesh is the third largest in South Asia.
The automotive industry in South Korea is the fifth-largest in the world as measured by automobile unit production and also the sixth-largest by automobile export volume.
The automotive industry in Vietnam is a fast-growing sector mainly reliant on domestic sales. All currently produced models are designed abroad by foreign brands, and many rely on knock-down kit production. Due to high import taxes on automobiles, the Vietnamese government protects domestic manufacturing. Although Vietnam is a member of the ASEAN Free Trade Area, automobile imports fall under an exception. Since January 1, 2018, the 30% import tax has been discontinued as part of ASEAN agreements. Currently, the Vietnamese motor industry is not deemed competitive enough to make exports feasible. As of April 2018, 85% of car sales in Vietnam were produced domestically from knock-down kits.
The automotive industry in Egypt has been developing for 50 years. It can sell more than 200,000 vehicles annually and is now the second-largest market in Africa and the 42nd largest in the world, with an annual production output of over 70,000 vehicles. After experiencing many failures and success, the Egyptian Automotive industry is focusing more on assembly operations rather than manufacturing.
Covema srl was a historic Italian company specializing in the design of plastic processing machinery, based in Milan, via Fontana 1. Founded in 1953 by the Terragni brothers, it also included the companies Corima spa, GBF spa, GBF iberica, RIAP srl, FIRS spa, Covepla Spain, Italproducts srl, Omam spa, TPA srl, AGRIPAK srl, Floraplant srl, Interfinance SA, Technical Die spa, Covema SAE. The technology that Covema has developed since the 1950s is merged into Agripak srl based in Milano and managed by the sons of Marco Terragni: Fabio Terragni (president), Patrizia Terragni and Massimo Terragni.
