The expansion of clean energy deployment, rising electricity demand driven by industrial electrification, and the restructuring of global supply chains are creating new growth opportunities in low-carbon technology markets. Major economies are accelerating clean energy deployment and the development of low-carbon industries while seeking to secure resilient supply chains and strengthen their manufacturing bases. These shifts present new business opportunities for Korean companies, building on the technological and manufacturing capabilities developed across Korea’s industrial base.
Translating Korea’s recently announced Green Transformation (K-GX) Strategy into tangible industrial growth will require connecting domestic technological and manufacturing capabilities with opportunities in global markets. KPMG Korea analyzed current market conditions and growth prospects across seven key low-carbon sectors—solar PV, offshore wind, heat pumps, power grids, batteries, steel, and petrochemicals—to identify promising markets. The report then assesses Korea’s supply capabilities and competitiveness across the value chain of each technology, estimating cumulative market opportunities potentially accessible to Korean companies at approximately USD 1,044 billion (KRW 1,485 trillion) between 2026 and 2035.
To translate these market opportunities into industrial growth, the report outlines three strategic directions: establishing domestic demonstration projects and securing initial demand; expanding from equipment and component supply into integrated systems and project-based businesses; and realigning manufacturing capabilities based on market demand and commercial viability. In particular, leveraging Korea’s technological, manufacturing, and project execution capabilities to strengthen participation in global supply chains and secure overseas contracts will be critical. KPMG Korea anticipates this report provides valuable insights for companies seeking to identify new growth and export opportunities and develop medium- to long-term business and investment strategies.
Contents
I. The Global Low-Carbon Transition and the K-GX Strategy
II. Market Opportunities for Korea’s Low-Carbon Technologies
- Energy: Solar PV, Offshore Wind, Thermal Energy (Heat Pumps)
- Energy Systems: Power Grids
- Transition Technologies: Batteries
- Industry: Steel, Petrochemicals
III. Conclusions and Next Steps