The IZB was created in 2001 as a Volkswagen AG in-house supplier show at Volkswagen AG headquarters with 128 exhibitors from six nations.(image: Kobiz Media / Korea Bizwire)
SEOUL, Jan. 11 (Korea Bizwire) – The International Suppliers Fair (Internationale Zuliefererbörse, IZB), Germany’s leading international automotive supplier trade fair, will be held every odd year in Gumi, North Gyeongsang Province, South Korea, from 2017.
The IZB was created in 2001 as a Volkswagen AG in-house supplier show at Volkswagen AG headquarters with 128 exhibitors from six nations. Now, it has grown into a big event for the international automotive supplier industry, drawing a total of 51,000 visitors and 821 exhibitors from 29 nations in 2014.
Wolfsburg AG, a public-private partnership between Volkswagen AG and the city of Wolfsburg, has been holding the fair biennially in every even year. Wolfsburg AG is known to have been in talks with Gumi’s investment promotion delegation about the IZB at a trade fair held in the city of Wolfsburg in October 2014. Wolfsburg AG is planning to set Gumi as the base region for expanding its Asian market share.
Gumi City Government is foreseeing to hold the fair starting in 2017 with proper arrangements. Gumi is also planning to establish a trade cooperation agency in the city of Wolfsburg on March 1. A technology-consulting firm hired by Volkswagen is also planning to open a branch office in Gumi this year. Volkswagen AG has been pouring money into expanding its business in Asia, and has been keen on chasing Toyota Motor Corp. in Southeast Asia where it has been lagging behind Asian car manufacturers.
By Kevin Lee (kevinlee@koreabizwire.com)
