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Annual Production of 4 Million Cars Lays a Strong Foundation for the Automotive Parts Industry CloseAnnual Production of 4 Million Cars Lays a Strong Foundation for the Automotive Parts IndustryThe auto industry ecosystem that has been created based upon Korea’s experience of manufacturing over four million cars annually works as a foundation for continuous growth of the automotive parts industry.
As an IT powerhouse, Korea has capabilities to respond to making smart cars, which leads to high expectation for continuous growth in the future.
Eight Korean companies were included in the 2019 Top 100 Automotive Parts Companies Ranking list (based on sales).
The total sales of those eight companies was USD 57 billion, accounting for 6.8% of all 100 automotive parts companies."Korean Companies’ Ranking on Top 100 Automotive Parts Companies Ranking"(Unit : USD million)Korean Companies’ Ranking on Top 100 Automotive Parts Companies Ranking year(2010,2015,2019) Name of Company, Delivery Price 2010 2015 2019 Name of Company Delivery Price Name of Company Delivery Price Name of Company Delivery Price 현대모비스(9위) 14,433 현대모비스(6위) 26,262 현대모비스(7위) 26,155 현대위아(45위) 4,115 현대위아(29위) 7,480 현대트랜시스(36위) 7,374 만도(53위) 3,827 만도(45위) 5,560 현대위아(37위) 6,979 현대다이모스(92위) 1,338 현대파워텍(50위) 4,554 한온시스템(42위) 6,137 현대다이모스(71) 3,200 만도(50위) 4,893 현대케피코(88위) 1,898 SL(89위) 1,883 서연이화(94위) 1,695 ※ material : Automotive News -
Export-led Growth Trend Continues OpenExport-led Growth Trend ContinuesThe sales of the Korean automotive parts industry in 2019 reached USD 65.4 billion (KRW 76.1 trillion), up 6.5% YoY.
Thanks to the growth of front industries, the sales of the automotive parts industry has grown continuously by 2.9% every
year on average, starting from USD 51.8 billion (KRW 58.8 trillion) in 2010.
OEM accounts for the highest proportion at 66.5%, followed by exports at 28.8%, and AS parts at 4.7%.The proportion of automotive parts out of all exports in 2019 reached 4.2%, and the surplus in balance of trade was also as
high as USD 17.1 billion, Export items include other automotive parts, transmissions, frame parts, and brake parts.※ Source: Statistics Korea, Korea International Trade AssociationAuto Industrial Trends category, year ※ Source: Statistics Korea, Korea International Trade Association
※ Footnote: *Production and domestic demand: Completed cars
※ * Amount of exports and imports: MTI741, MTI742 add up -
Global Automotive Parts Companies Entered Korea in Large Numbers OpenGlobal Automotive Parts Companies Entered Korea in Large NumbersMost of the top ten automotive parts companies have entered Korea, and they supply core parts that require high levels of technology.
Those leading automotive parts companies utilize Korea as an important axis in their global networks and are investing in electric vehicles and autonomous vehicles to secure future markets. -
Accelerated Conversion to Future Automobiles OpenAccelerated Conversion to Future AutomobilesThe Korean government announced the Future Automobile Industrial Development Strategies to propose achieving a 10%
market share in the global eco-friendly car market by 2030 and becoming the first country to commercialize fully autonomous cars (level 4) by 2027. The private sector plans to create a fund of USD 51.6 billion (KRW 60 trillion) by 2030 along with securing technologies and building the infrastructure required to commercialize autonomous vehicles.
In order to ensure the advancement of autonomous driving technology, Korea will cooperate with Intel, NVIDIA,
and Baidu, etc. to acquire start-ups, so that fully autonomous vehicles (level 4), which enable safe autonomous driving
technology even when drivers cannot return to manual operation, can be commercialized by 2022.Government technology/R&D Support for electric vehicles(Electric vehicles) Together with improving mileage (400km → 600km) and reducing charging time (200kW → 400kW), core parts technologies will be improved (feasibility studies worth USD 450 million under way)Core parts: Battery cells, battery modules, battery management systems (BMS), on board chargers (OBC)Localization of IT-based autonomous vehicle and parts manufacturingConvergence technologies will be developed among automotive parts companies and electric, telecommunication, and IT companies (convergence sensors [cameras, radar, lidar], AI-based driving control technology, etc.) and demonstration of mobility services will be supported (USD 900 million; feasibility studies under way).Core parts: Front and side image sensor modules, 77/79 GHz dual band radar, low-price lidar sensors, accident data recorders (ADR), V2X communication, digital maps, lower-end hybrid positioning, driver-vehicle interfaces (HVI module), integrated domain control units (DCU) -
Nationwide Location of the Automotive Industry OpenNationwide Location of the Automotive IndustryThe Korean automotive industry is scattered across the country. Its clusters are categorized into the west sea area,
including Seoul metropolitan area, the southeast with Ulsan at the center, and the Honam area with Gwangju and Gunsan.
Kia and GM Korea’s completed vehicle factories, Hyundai-Kia Namyang R&D Center and other R&D centers and factories,
and the K-City (an exclusive test city for autonomous driving) are located in the metropolitan area. In the Chungcheong area,
124 primary partner companies are located in Cheonan, Asan, and Dangjin. In the southeast area, major complete car companies, such as Hyundai, Renault Samsung, and GM Korea, and 337 primary partners for automotive parts have formed clusters.Location of Complete Car Factories and Primary PartnersLocation of Complete Car Factories and Primary Partners- Seoul:37 parts companies
- Gangwon:4 parts companies
- Incheon – 50 parts companies
- Incheon: GM Daewoo 44만대
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Gyeonggi :117 parts companies
- Sohari:Kia 32만대
- Hwaseong:Kia 56.3만대
- Pyeongtaek:SsangYong 15.3만대
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Chungcheongnam-do:78 parts companies
- Seosan:Donghee Auto (Kia) 15만대
- Asan:Hyundai 30만대
- Daejeon :8 parts companies
- Chungcheongbuk-do:21 parts companies
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Jeollabuk-do:72 parts companies
- Gunsan:Tata Daewoo 2만대
- Jeonju :Hyundai 10.3만대
- Gyeongsangbuk-do:68 parts companies
- Daegu:47 parts companies
- Jeollanam-do:8 parts companies
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Gwangju:28 parts companies
- Gwangju:Kia 60만대
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Ulsan:33 parts companies
- Ulsan:Daewoo Bus 0.5만대
- Ulsan:Hyundai 141만대
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Gyeongsangnam-do:118 parts companies
- Changwon : GM Daewoo : 21만대
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Busan:67 parts companies
- Busan:Renault Samsung 30만대
※ Source: Korea Auto Industries Corporation Association (KAICA)
※ Source: Korea Institute for Industrial Economics and Trade
※ Footnote: 2019 Output
Invest KOREA
Transport Machinery PM
Lee Chul Soon
Key Industries Promotion Team
T.+82-2-3460-7724
Recommendation on Locations
Industrial complex information
[Chungcheongnam-do Seosan City] Myeongcheon Automobile Complex
Click [Go to Detailed Information] to go to the relevant information screen of Smart K-Factory service of Industrial Complex Corporation.
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Complex nameMyeongcheon Automobile Complex
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Initial designation date2003.07.21
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Designated area(m2)142,673
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ManagementChungcheongnam-do Seosan City
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Nearby RailwayHongseong Station
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Distance from station(km)50
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Nearby AirportGunsan Airport
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Distance from airport(km)124
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Industrial water Supply capacity(ton/day)254(㎥/day)
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Affiliation local governmentChungcheongnam-do Seosan City
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Population175,272
Industrial complex information
[Gwangju Metropolitan City Gwangsan-gu] Pyeong-dong (Woljeon Small and Medium-sized Business Cooperation for Foreigners)
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Complex namePyeong-dong (Woljeon Small and Medium-sized Business Cooperation for Foreigners)
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Initial designation date2013.05.15
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Designated area(m2)99,060
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ManagementKorea Industrial Complex Corporation
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Nearby RailwayGwangju Station
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Distance from station(km)21
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Nearby AirportGwangju Airport
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Distance from airport(km)7
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentGwangju Metropolitan City Gwangsan-gu
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Population1,454,154
Industrial complex information
[Chungcheongnam-do Seosan City] Seosan Auto Valley General Industrial Complex [formerly: Seosan
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Complex nameSeosan Auto Valley General Industrial Complex [formerly: Seosan
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Initial designation date1997.01.24
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Designated area(m2)3,989,547
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ManagementChungcheongnam-do Seosan City
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Nearby RailwaySapgyo Station
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Distance from station(km)49
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Nearby AirportCheongju International Airport
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Distance from airport(km)123
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Industrial water Supply capacity(ton/day)7,432(㎥/day)
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Affiliation local governmentChungcheongnam-do Seosan City
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Population175,272
Industrial complex information
[Ulsan Metropolitan City Buk-gu] Dalcheon Agricultural Industrial Complex
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Complex nameDalcheon Agricultural Industrial Complex
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Initial designation date1997.03.11
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Designated area(m2)259,634
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ManagementUlsan Metropolitan City Buk-gu
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Nearby RailwayHogye Station
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Distance from station(km)4
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Nearby AirportUlsan Airport
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Distance from airport(km)8
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentUlsan Metropolitan City Buk-gu
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Population1,140,310
Industrial complex information
[Gangwon-do Wonju City] Wonju Automobile Component General Industrial Complex
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Complex nameWonju Automobile Component General Industrial Complex
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Initial designation date2008.07.10
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Designated area(m2)92,917
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ManagementGangwon-do Wonju City
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Nearby RailwayDonghwa Station
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Distance from station(km)5
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Nearby AirportWonju Airport
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Distance from airport(km)25
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Industrial water Supply capacity(ton/day)-
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Affiliation local governmentGangwon-do Wonju City
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Population352,964
Industrial complex information
[Jeollabuk-do Wanju County] Wanju Techno Valley General Industrial Complex
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Complex nameWanju Techno Valley General Industrial Complex
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Initial designation date2010.12.31
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Designated area(m2)1,311,399
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ManagementJeollabuk-do Wanju County
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Nearby RailwaySamrye Station
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Distance from station(km)11
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Nearby AirportGunsan Airport
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Distance from airport(km)62
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Industrial water Supply capacity(ton/day)4,792(㎥/day)
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Affiliation local governmentJeollabuk-do Wanju County
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Population91,741