【South Korea;】Diamond Powerhouse India, South Korea Also Plants Its Flag [Lab-Grown Diamond’s Rapid Rise②]

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Editor’s Note

The global race to lead the lab-grown diamond sector is heating up. This article examines South Korea’s strategic push, from achieving domestic production to targeting worldwide expansion, and how its focus on core technology could redefine the K-jewelry industry.

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The competition among countries to dominate the growing lab-grown diamond market is intensifying. South Korea, having succeeded in its first self-production of lab-grown diamonds four years ago, is now aiming for global business expansion. The leap forward of the K-jewelry industry through securing core technologies is drawing attention.

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Raw stones are grown from diamond seeds and processed through laser machinery following 3D design. The processed rough stones are then transformed into intricate 58-facet lab-grown diamond products by the hands of polishing artisans from India.

This company succeeded in producing the first gem-quality lab-grown diamonds in South Korea in 2021 through industry-academia collaboration. It significantly reduced cost and time using the Chemical Vapor Deposition (CVD) method.

“Methane is a mixed gas of carbon and hydrogen. This is decomposed using plasma to selectively deposit carbon onto the surface. Creating a diamond of this carat grade takes about 30 days.”
– Song Oh-sung, Professor, Department of Advanced Materials Engineering, University of Seoul

Since last month, it has begun operating a polishing factory in Surat, India, a diamond powerhouse that polishes 95% of the world’s diamond volume. The company aims for 20 billion won in sales this year and a listing as early as the year after next.

“We directly control the entire value chain from diamond production, polishing, distribution, to jewelry manufacturing and sales. The Indian factory is expected to have a monthly production capacity of about 3,600 carats, 36,000 carats annually, and up to 40,000 carats at maximum. We have established ourselves in India with the goal of meeting domestic demand and expanding overseas.”
– Kang Sung-hyuk, CEO, Allod

As the market grows rapidly, with everyone from global brands to small companies jumping into production, supply is overflowing and prices are on a downward trend. For domestic companies to secure competitiveness, they need to launch new designs and color products through better core technologies.

“Since lab-grown diamond technology is used not only for jewelry but also for various industrial purposes like semiconductors and electronic materials, I think it would be good if the government supports joint development between industry, academia, and research institutes.”
– Yoon Sung-won, Adjunct Professor, Department of Gemology, Hanyang University

Recently, the world’s largest diamond company, De Beers, withdrew from the lab-grown diamond business. Also, GIA (Gemological Institute of America) decided to simplify its grading system for lab-grown diamonds starting in the second half of the year. These measures are interpreted as efforts to clearly differentiate between natural and lab-grown diamonds and respond to the changing market.

In this period of upheaval, the global strides of K-jewelry based on lab-grown diamonds are anticipated.

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⏰ Published on: July 10, 2025