South Korea became the second largest LED manufacturer in the world

Recently, the South Korean side stated that due to the bold investment made by domestic companies in TV products and the optimism of global demand, South Korea has become the world’s second largest LED producer in 2010. According to the Korea Ministry of Knowledge Economy, the total sales of LED manufacturers in South Korea exceeded 6.9 trillion won (6.35 billion U.S. dollars) in 2010, doubled from 3.1 trillion won (2.9 billion U.S. dollars) in 2009, and tripled that of 2007. 2.2 trillion won (2.05 billion US dollars).

The Korea Ministry of Knowledge and Economy said that although it entered the LED market later, South Korea moved up from behind in the short term, rising from the fourth place in the world in 2009 to the second place in the world, playing a pivotal role in the global LED market.

Since 2008, the Korean government has been supporting emerging industries and accelerating the penetration of LED lighting in the home, business and public sectors. The Korea Ministry of Knowledge Economy stated that, from a national point of view, LED lighting accounted for 14% of the lighting systems of government departments and state-owned enterprises. In public institution lighting systems, LED lighting accounts for 8%. For traffic lights, more than 90% are LED lights.

To further promote the popularity of LED lighting, South Korea has introduced a subsidy policy for LED bulbs. The government plans to increase the LED lighting penetration rate to 60% by 2020 and will ban the production and sale of incandescent lamps from 2014.