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Global Transportech 2014 sees rosy prospects for Korea’s auto parts industry
Global complete vehicle manufacturers such as GM, Ford, Honda, auto parts manufacturers such as Getrag, Denso, Aisin as well as giant auto parts distribution company were some of the participants in Global TransporTech 2014. Among these, 120 companies (47%) were giant global companies with purchasing power of over USD 100 million.
Corporate buyers from North America, Europe and Japan, which are considered to be the production hub of complete vehicles, as well as those from Asia, Africa and the Middle East were all present, indicating prospects for Korea’s domestic auto parts industry to enter the global market. At Home, local government entities from Kyungbuk, Chungbuk and Chungnam, as well as Korea Industrial Complex Corp. also visited the fair.
Upon this year’s success, KOTRA and BEXCO will jointly host Global TransporTech and Busan International Motor Show in every two years.
“With advancement of Korea’s automobile industry, our auto parts industry is gaining global competence as well. Automakers around the world and their global suppliers are increasingly paying more attention to Korea. We will provide every necessary support to help domestic automobile & auto parts industry become competitive players in the global market,’ said Kim Byung-kwon, Executive Vice President of the Strategic Marketing division of KOTRA.
joseph@yna.co.kr
Copyrights Yonhap News. All Rights Reserved. Source Text
Source: Yonhap News (June. 02, 2014)
** This article was translated from the Korean.
Date
2014.06.25
Views
687
According to Yonhap News,
(BUSAN=Yonhap News) KOTRA announced on June 2 that KRW405 million worth of export contract was signed at Global TransporTech, which was held on May 29 and 30 as a side event of 2014 Busan International Motor Show. Consultation on KRW1.5 billion worth of export took place as well. The amounts have gone up from those of last year’s TransporTech held in Kintex, and back in 2012.
Global complete vehicle manufacturers such as GM, Ford, Honda, auto parts manufacturers such as Getrag, Denso, Aisin as well as giant auto parts distribution company were some of the participants in Global TransporTech 2014. Among these, 120 companies (47%) were giant global companies with purchasing power of over USD 100 million.
Corporate buyers from North America, Europe and Japan, which are considered to be the production hub of complete vehicles, as well as those from Asia, Africa and the Middle East were all present, indicating prospects for Korea’s domestic auto parts industry to enter the global market. At Home, local government entities from Kyungbuk, Chungbuk and Chungnam, as well as Korea Industrial Complex Corp. also visited the fair.
Upon this year’s success, KOTRA and BEXCO will jointly host Global TransporTech and Busan International Motor Show in every two years.
“With advancement of Korea’s automobile industry, our auto parts industry is gaining global competence as well. Automakers around the world and their global suppliers are increasingly paying more attention to Korea. We will provide every necessary support to help domestic automobile & auto parts industry become competitive players in the global market,’ said Kim Byung-kwon, Executive Vice President of the Strategic Marketing division of KOTRA.
joseph@yna.co.kr
Copyrights Yonhap News. All Rights Reserved. Source Text
Source: Yonhap News (June. 02, 2014)
** This article was translated from the Korean.