As South Korea’s economy dips and government policies negatively influence infrastructure plans, the country’s cement industry remains at overcapacity amid stagnant levels of demand. Moving forward, producers must find new strategies to operate competitively in this challenging market. By Manas Tamotia, LEK Consulting, Singapore.
Driven by innovation and technology, South Korea has transformed itself from an agrarian state devastated by war into the world’s 12th largest economy.1 Furthermore, despite being in one of the most heavily-militarised locations in the world, it is home to some of the globally- leading technology brands, such as Samsung, LG and Hyundai.
A series of historic events took place in 2018, with US and North Korean leadership meeting in June, followed by an agreement in September between North and South Korea to denuclearise the peninsula. But the year did end with Kim Jong-Un’s threat to change direction once more if the US did not scale back sanctions.
