As this year’s most representative opportunity to generate business opportunities, the forthcoming AAPEX2013 is keenly attracting Korean car makers and automotive parts makers.

Equipped with advanced technology in high demand for globally hot solutions, some 70 domestic makers in the field are expected to join the Automotive Aftermarket Products Expo, slated for Nov.

5-7 in Las Vegas, the U.S.A. Their competitive products, ranging from automotive parts and accessories to car maintenance equipment, others, will be staged at the Korea Pavilion to be run by the Korea Trade-Investment Promotion Agency(KOTRA) and they are expected to attract ardent attention from the anticipated 50,000buyers attending the
show from all over the world.

Under fierce global competition, South Korean companies are seeking ever-creative efforts not only to move into remaining niche markets, but also to fortify the existing global presence. As a representative case of these, Hyundai Dymos has decided to break ground on its $35million plant near its sister company Kia Motors’ assembly plant in Georgia, USA, in October this year.

Hyundai Dymos, a maker of transmissions and seats for passenger cars, plans to provide its products to Kia making it easier for the car maker to beef up its market position there.

And in Korea, new highly competitive items are being released by both automotive makers and parts makers, an aggressive move against the overall global market trend of increasingly tough competition.

 

 
As a representative example, a group of researchers at the Korea Advanced Institute of Science and Technology (KAIST) recently developed a possible solution to such problems: a foldable, compact electric vehicle that can be utilized either as a personal car or part of the public transit system to connect major transportation routes within a city.

Korea’s automobile production in June 2013 decreased 6.5% over a year earlier to 394,386units, due to overall sales decline coupled with supply shortages. Production during the first half of the year shrank by 4.3% at 2,279,790units, while 2013 production is expected to increase 0.8% to 4,600,000 units.

Despite new model release effect of Maxcruz, all new Carens and KorandoTurismo, domestic demand in June 2013 lost 7.9% to 114, 251units, owing to the continued overall economic slowdown, contracted purchasing power with the burden of household debt and inroads of imported cars.

Home sales in the first half of the year recorded 676,823units, down 2.6%. Exports in June 2013 fell by 8.3% to 275,528units, attributed to increased economic uncertainty by U.S. reduction plans of quantitative easing, the trend of the yen’s devaluation and increased overseas production of Korean cars.

The vehicle exports in July this year fell by 7.3% to 223,482units, on account of expanded economic uncertainty by U.S. reduction plans of quantitative easing, supply shortages and increased offshore production of Korean brand. Exports in the first seven months were down 6.6% recording 1,812,796units.

▶ KAIST Unveils Foldable Micro Electric Car, Armadillo-T
▶ Brake Pads
▶ Automotive Ladder Frame
▶Cooling System
▶Automobile Parts

 
korean-machinery.com | Blog Magazine of korean-machinery, brands and Goods