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S. Korean auto parts makers must reduce dependence on local group: report
By Korea HeraldPublished : July 8, 2016 - 13:19
[THE INVESTOR] South Korean auto parts makers need to reduce their dependence on local carmakers in order to advance on the international stage, an industry report said on July 8.
“Korean auto parts makers have a high dependence on local automotive groups, therefore (they) need to make an effort to grow in the global market,” Korea Automobile Manufacturers Association said in its latest report.
“Korean auto parts makers have a high dependence on local automotive groups, therefore (they) need to make an effort to grow in the global market,” Korea Automobile Manufacturers Association said in its latest report.
“In order to become global parts makers, (Korean companies) need to secure advanced technologies, and diversify their revenue channels.”
The report also cited US-based automotive industry publication Automotive News’ world’s top 100 parts makers to show that only five Korean firms made the list.
The rankings, based on 2015 sales, showed that Hyundai Mobis took the sixth place, while Hyundai Wia and Mando ranked at 29th and 45th place, respectively.
Hyundai Motor Group’s transmission maker Hyundai Powertech ranked at 50th place, while Hyundai Dymos took the 65th place.
Hyundai Dymos is a powertrain component, and seat maker of the Hyundai Motor Group.
By Choi He-suk (cheesuk@heraldcorp.com)
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Articles by Korea Herald
