Reportedly, South Korea has become the world's second-largest maker of LED last year based on the firms' bold investment in television production and upbeat global demand.
According to the Ministry of Knowledge Economy, combined sales of Korean LED manufacturers more than doubled to 6.9 trillion won (US$6.35 billion) last year worldwide from 3.1 trillion won (US$2.9 billion) in 2009, and more than tripled from 2.2 trillion won (US$2.05 billion) in 2007.
The country also swung into the black in the global LED trade, logging US$414 million surplus last year. That marks a significant turnaround from a US$172 million deficit in the previous year.
Since 2008, the government has been supported the burgeoning industry by promoting LED lighting in the households, businesses and public sector.
According to the ministry, LED accounts for 14 percent of the total lighting systems at municipalities and state-run corporations nationwide, and 8 percent at the public institutions. More than 90 percent of all traffic lights carry LED bulbs currently.
In addition,to boost distribution further, the government also provides tax benefits for those who adopt LEDs to encourage replacing incandescent light bulbs with LED lamps in the private sector. It also wants to ban production and sale of incandescent light bulbs starting 2014.
