The US is expected to become the most promising market for local carmakers next year, while China is to yield the greatest opportunities for chipmakers, according to big data analysis released Monday.

The state-run Korea Trade-Investment Promotion Agency’s report looks into market prospects of major markets overseas for Korean exporters expected to lead the post-pandemic economic recovery.

Markets that would show solid demand for automobiles in 2021 include the US, Germany, the UK and Canada. Top markets for auto parts are the US, Germany, Mexico, France and China, the report said.

Strong demand for semiconductors is expected in China, Hong Kong, Malaysia, Singapore and the US, the report added.

The state-funded trade and investment promotion organization’s report also named other key markets for South Korea’s major exports items, including telecommunications equipment, petroleum and petrochemical products, ships, home appliances, computer products, display and textile products.

The top five markets for telecommunications equipment include the US, China, Hong Kong, Germany and Netherlands.

Regarding petrochemical products, China is expected to be most promising market, followed by the US, Germany, India and Belgium, according to the repot.

“KOTRA has been increasing its efforts to improve its big data analytics capabilities to better manage its data,” said president & CEO of KOTRA, Kwon Pyung-oh.

Detailed big data analytics results for other items can be found on the organization’s official website.

By Shim Woo-hyun (ws@heraldcorp.com)