South Korean auto parts suppliers look for opportunities to develop Southeast Asian markets

According to a news report from a local Korean trade organization, South Korean Yonhap News Agency, Korean auto parts suppliers have sought opportunities to develop the Southeast Asian market, and held the first auto parts joint exhibition in Thailand on Thursday.

Recently, Korea AutopartsPlaza, a joint exhibition of auto parts, was held in Thailand. According to news from the Korea Trade-Investment Promotion Agency (KOTRA), 33 South Korean component suppliers and more than 150 official figures from various Japanese automobile production companies and the General Motors Thailand branch arrived.

American automaker General Motors sponsored this two-day event for its Thai branch. According to the Korea Trade and Investment Promotion Agency, in the past five years, GM has purchased more than six billion U.S. dollars worth of auto parts from South Korean parts suppliers.

ChoHwan-eik, president of Korea Trade & Investment Promotion Corporation, said, “KoreaAutopartsPlaza provides a good opportunity for small and medium auto parts suppliers to enter the Southeast Asian market.”