South Korea Blockchain IoT Market Research Report By Application (Supply Chain Management, Healthcare, Smart Cities, Energy Management, Agriculture), By Technology (Public Blockchain, Private Blockchain, Hybrid Blockchain, Blockchain as a Service, Permissioned Blockchain), By End Use (Industrial, Commercial, Residential, Government, Transportation), and By Connectivity (Wireless Connectivity, Wired Connectivity, Bluetooth Connectivity, Cellular Connectivity, LPWAN Connectivity)- Forecast to 2035

South Korea Blockchain IoT Market Overview

As per MRFR analysis, the South Korea Blockchain IoT Market Size was estimated at 116.93 (USD Million) in 2023.The South Korea Blockchain IoT Market is expected to grow from 136.5(USD Million) in 2024 to 953 (USD Million) by 2035. The South Korea Blockchain IoT Market CAGR (growth rate) is expected to be around 19.323% during the forecast period (2025 - 2035)

Key South Korea Blockchain IoT Market Trends Highlighted

The blockchain IoT market in South Korea is expanding significantly due to a number of important market factors. A major factor in this tendency is the nation's strong commitment to developing its technological infrastructure. In order to increase production and efficiency, government programs like the "Digital New Deal" seek to encourage the adoption of blockchain technology in a variety of industries.

Furthermore, the need for IoT solutions that use blockchain technology for safe data exchange and better service delivery is being fueled by the growth of smart cities in South Korea, especially in places like Seoul and Busan. This landscape offers many prospects for exploration, especially in the fields of smart transportation systems, healthcare, and supply chain management.

Organizations are using blockchain technologies to improve operational efficiency as a result of the growing requirement for security and transparency. In order to develop cutting-edge IoT solutions that utilize blockchain technology, which enables them to access new markets and improve scalability, South Korean businesses are also concentrating on partnerships and collaborations.

Sustainability has received more attention in the Blockchain IoT sector in South Korea in recent years. Businesses are aiming to connect blockchain with IoT to monitor and optimize energy consumption and decrease waste as the government places more emphasis on environmental goals. This pattern is consistent with worldwide shifts toward sustainable practices.

Furthermore, a rich environment for innovation is being fostered in South Korea by the growing involvement of research organizations and educational institutions in projects that investigate the convergence of blockchain and IoT. These developments' confluence points to a promising future for the nation's Blockchain IoT sector.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

South Korea Blockchain IoT Market Drivers

Government Initiatives and Support for Blockchain IoT

The South Korean government has been actively promoting the adoption of Blockchain Internet of Things (IoT) technologies through various initiatives and policy frameworks. The Ministry of Science and ICT in South Korea has announced plans to invest approximately 1.9 billion USD by 2025 to foster the development of blockchain technology across various sectors, including IoT.

This support aims to enhance technological infrastructure, create regulations that promote innovation, and encourage collaborations among industry players. The government's efforts are expected to significantly enhance the South Korea Blockchain IoT Market by creating a conducive environment for businesses to innovate and integrate blockchain technologies into their IoT systems.

Additionally, various universities and research institutions in South Korea are deploying research programs that include Blockchain IoT, creating a skilled workforce and further encouraging development and adoption in this sector.

Rising Demand for Secure and Efficient IoT Solutions

As cybersecurity threats continue to escalate, there is a growing demand for secure IoT solutions that leverage Blockchain technology for better security and data integrity. According to a report from the Korean Internet and Security Agency (KISA), cyberattacks in South Korea have increased by 57% over the past three years, leading to a heightened awareness of data protection.

Organizations are now actively seeking Blockchain IoT capabilities as they provide decentralized security measures that protect sensitive information from hacking and unauthorized access. The increasing concern for data breaches is driving companies in South Korea to adopt Blockchain IoT technologies to ensure safe and efficient operations across various industries.

Healthcare Sector Transformation through Blockchain IoT

The healthcare sector in South Korea is undergoing a transformation, with a growing trend towards the integration of Blockchain IoT technologies for improved patient data management and telemedicine applications.

The Ministry of Health and Welfare has reported a 70% increase in the use of telemedicine services during the past year, largely due to the COVID-19 pandemic. This surge has created an urgent need for secure and interoperable healthcare systems, where Blockchain IoT can play a vital role.

By ensuring data accessibility and security, Blockchain IoT solutions can enhance patient care and operational efficiency, thus propelling the South Korea Blockchain IoT Market within the healthcare sector.

South Korea Blockchain IoT Market Segment Insights

Blockchain IoT Market Application Insights

The Application segment of the South Korea Blockchain IoT Market plays a crucial role in driving innovation and technological advancement across various industries.The rapid integration of blockchain technology in applications such as Supply Chain Management, Healthcare, Smart Cities, Energy Management, and Agriculture is transforming established practices, enhancing transparency, and ensuring data integrity.In Supply Chain Management, the rise of blockchain helps streamline processes and create secure and efficient tracking of goods, which is pivotal for maintaining quality and reducing loss, particularly in a country known for its strong manufacturing base.

Healthcare stands to benefit significantly from blockchain's ability to securely store patient data and manage its exchange among stakeholders, promoting better patient outcomes and operational efficiencies while complying with stringent regulations.The concept of Smart Cities is gaining traction in South Korea, where the government is investing in smart infrastructure to improve urban living standards; blockchain facilitates seamless interoperability of devices and services within these environments, enhancing citizen engagement and service delivery.

In the realm of Energy Management, blockchain technology optimizes energy distribution and encourages peer-to-peer energy trading, which supports South Korea's commitment to sustainable energy practices as they transition towards renewable resources.Lastly, Agriculture in South Korea experiences advantages from blockchain through improved traceability of produce, reducing fraud, promoting organic practices, and ensuring safety in food supply chains.The South Korea Blockchain IoT Market segmentation illustrates how each of these applications contributes to the overall efficiency, safety, and progress of society as a whole, opening opportunities for future developments and fostering growth in diverse sectors.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain IoT Market Technology Insights

The Technology segment of the South Korea Blockchain IoT Market is rapidly evolving, reflecting a broader trend towards enhanced connectivity and security in various digital applications. Public Blockchain systems, known for their transparency and decentralization, are gaining traction in sectors like finance and supply chain management, allowing for real-time data sharing with reduced fraud risks.In contrast, Private Blockchains offer organizations greater control over their data, significantly appealing to industries such as healthcare and law, where data confidentiality is crucial. Hybrid Blockchains combine the benefits of both by allowing public accessibility while maintaining private data control, thus offering a versatile solution for varying business needs.

Furthermore, Blockchain as a Service (BaaS) is revolutionizing market operations in South Korea by enabling companies to utilize blockchain frameworks without deep technical expertise, fostering innovation and reducing operational costs.Lastly, Permissioned Blockchains are emerging as an important tool for sectors that require regulated access and enhanced security, facilitating compliance with government standards while still enjoying the advantages of blockchain technology.The combination of these different technologies not only enhances the landscape of the South Korea Blockchain IoT Market but also supports the country's broader goals of digital transformation and economic growth.

Blockchain IoT Market End Use Insights

The South Korea Blockchain IoT Market is rapidly evolving with varied applications across distinct end-use sectors, driving its momentum in the digital landscape. The Industrial segment stands out as a significant driver, leveraging blockchain technology to enhance supply chain transparency, improve asset tracking, and streamline operations.In the Commercial sector, businesses utilize IoT and blockchain integration to optimize customer experiences and enhance data security, while the Residential segment benefits from smart home innovations that increase efficiency and security.

Government initiatives further empower the Blockchain IoT Market by implementing smart cities and public service enhancements, making operations more transparent and efficient. Additionally, the Transportation sector utilizes blockchain to facilitate secure vehicle-to-vehicle communication, optimize traffic management, and improve datalink security.

Overall, the South Korea Blockchain IoT Market showcases a diverse array of applications in end-use categories, reflecting strong growth potential fueled by increased digital transformations and strong governmental support in advancing technology adoption. This dynamic landscape, driven by innovation, is poised for substantial market growth and transformation in the coming years.

Blockchain IoT Market Connectivity Insights

The Connectivity segment of the South Korea Blockchain IoT Market plays a crucial role in enhancing the overall efficiency and functionality of IoT devices across various industries.With the country’s strong emphasis on technological advancement and infrastructure development, Wireless Connectivity has emerged as a key facilitator, enabling seamless data transmission and real-time communication for a wide array of applications.

Wired Connectivity remains significant for stable and secure connections in industrial settings, particularly where reliability is paramount. Bluetooth Connectivity is important for short-range communication, especially in wearable technology and smart home applications, reflecting the growing trend towards personal and localized IoT solutions.Cellular Connectivity, fueled by advancements in 5G technology, offers enhanced data speed and reliability, supporting smart city initiatives and autonomous vehicles, central to South Korea's urban and transport evolution.

LPWAN (Low Power Wide Area Network) Connectivity presents opportunities for long-range communication with minimal power consumption, making it critical for remote monitoring and agricultural applications, a growing sector in the region.Overall, the development and integration of these connectivity solutions align with South Korea's commitment to establishing itself as a leader in IoT and blockchain technologies.

South Korea Blockchain IoT Market Key Players and Competitive Insights

The South Korea Blockchain IoT Market is experiencing significant growth propelled by advancements in technology and increasing adoption of IoT solutions across various industries. The integration of blockchain technology with IoT enables enhanced security, transparency, and efficiency, which are critical factors in managing connected devices.

As enterprises seek to harness data from IoT devices while ensuring data integrity and secure transactions, a competitive landscape has emerged, characterized by innovation and strategic partnerships. The market is witnessing a surge in activities, with local players and established technology companies vying for dominance in this evolving sector.

Key industry trends indicate that companies are increasingly focusing on developing tailored solutions that leverage blockchain's decentralized nature to solve challenges pertaining to data sharing and device interconnectivity.Naver Corporation holds a prominent position in the South Korea Blockchain IoT Market, leveraging its robust technological capabilities and extensive expertise in digital services. The company's strategic focus on integrating blockchain with IoT solutions highlights its commitment to delivering enhanced security and operational efficiency.

Naver’s significant investments in research and development, along with its active engagement in partnerships with other tech entities, solidify its market presence.The company’s strength lies in its established ecosystem, which combines various digital services, allowing seamless integration of IoT devices with blockchain technology to offer comprehensive solutions tailored for the South Korean market. This focus not only differentiates Naver Corporation but also strengthens its competitive edge in a rapidly evolving marketplace.

Cpost is actively shaping the landscape of the South Korea Blockchain IoT Market with its innovative offerings and commitment to leveraging technology for efficient operations. The company's key products and services revolve around providing solutions that integrate blockchain with IoT applications, focusing on areas such as supply chain management and logistics.

Cpost has built a solid reputation in the region, emphasizing the value of fostering connectivity and data security for its clients. Among its strengths is the ability to customize solutions for various industries, resulting in enhanced operational efficiencies for businesses.In addition to organic growth, Cpost has been involved in strategic mergers and acquisitions, allowing it to expand its technological capabilities and strengthen its market position effectively. By focusing on the specific needs of the South Korean market, Cpost continues to position itself as a leading player in the convergence of blockchain and IoT technologies.

Key Companies in the South Korea Blockchain IoT Market Include

• Naver Corporation
• SK Telecom
• Kakao Corp
• Hashed
• Hanwha Group
• Samsung Electronics
• Nexledger
• POSCO
• LG Electronics
• Chain Partners
• Hyundai Motor Company

South Korea Blockchain IoTMarket Developments

A major stride into the blockchain space was taken in August 2024 when Naver Corporation, in collaboration with Chiliz, introduced its first digital asset wallet, Naver Pay Wallet. To improve blockchain interoperability, SK Telecom and Polygon Labs inked a strategic collaboration agreement in August 2023 to create a Web3 ecosystem that includes an NFT marketplace and Web3 wallet.After the Bank of Korea halted its CBDC experiment, KakaoBank stated ambitions to enter the stablecoin market in South Korea in May 2025, taking into account roles in issuance and custody. According to reports, Hashed, a Seoul-based blockchain company, has funded more than 250 Web3 businesses worldwide as of August 2025, indicating its dedication to the advancement of blockchain technology.

In order to improve efficiency, Hanwha Systems created a data collection/monitoring solution for solar O&M in April 2024 using the AWS IoT Platform and integrating blockchain and artificial intelligence.In order to progress in the robotics sector, Samsung Electronics established a Future Robotics Office and became the largest shareholder in Rainbow Robotics in December 2024 after purchasing a 267 billion won interest in the company.Nexledger, a blockchain platform created by Samsung SDS, a division of Samsung Electronics, demonstrated its blockchain capabilities in March 2025 when it was used for enterprise applications. Chain Partners, a blockchain-focused company with headquarters in Seoul, participated in a number of Web3 and blockchain projects in June 2025, which helped the blockchain ecosystem expand.

South Korea Blockchain IoT Market Segmentation Insights

Blockchain IoT Market Application Outlook

• • Supply Chain Management
  • Healthcare
  • Smart Cities
  • Energy Management
  • Agriculture

Blockchain IoT Market Technology Outlook

• • Public Blockchain
  • Private Blockchain
  • Hybrid Blockchain
  • Blockchain as a Service
  • Permissioned Blockchain

Blockchain IoT Market End Use Outlook

• • Industrial
  • Commercial
  • Residential
  • Government
  • Transportation

Blockchain IoT Market Connectivity Outlook

• • Wireless Connectivity
  • Wired Connectivity
  • Bluetooth Connectivity
  • Cellular Connectivity
  • LPWAN Connectivity

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	116.93(USD Million)
MARKET SIZE 2024	136.5(USD Million)
MARKET SIZE 2035	953.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	19.323% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Naver Corporation, Cpost, SK Telecom, Daewoo Engineering & Construction, Kakao Corp, Hashed, Hanwha Group, MOBI, Seyen, Samsung Electronics, Nexledger, POSCO, LG Electronics, Chain Partners, Hyundai Motor Company
SEGMENTS COVERED	Application, Technology, End Use, Connectivity
KEY MARKET OPPORTUNITIES	Supply chain transparency solutions, Smart city infrastructure integration, Enhanced security for devices, Decentralized data management systems, Real-time asset tracking applications
KEY MARKET DYNAMICS	Regulatory support, Increasing investment, Technology integration, Enhanced security, Rising demand for automation
COUNTRIES COVERED	South Korea