SEOUL, March 8 (Korea Bizwire) — LG Electronics Inc. has revamped its overseas auto parts production bases, industry insiders said Monday, in a move to beef up its automotive solutions business for future growth. LG recently completed closure of its plant in Kunshan, southeastern China, which had been producing vehicle infotainment components, such as audio, [...]
SEJONG, Feb. 6 (Korea Bizwire) — South Korea said Thursday it will spend 385.6 billion won (US$326.2 million) on research and development (R&D) projects for auto parts for eco-friendly vehicles, such as electric cars, in line with the country’s latest clean energy drive. The project that will run through 2026 will center on lending hands [...]
SEOUL, May 16 (Korea Bizwire) – Hyundai Mobis Co., an auto parts affiliate of Hyundai Motor Group, said Tuesday it will open its first domestic proving ground starting in June to test auto parts and related technologies. The country’s biggest auto parts maker by sales invested about 300 billion won (US$268 million) in the past [...]
SEOUL, March 29 (Korea Bizwire) – Global auto parts companies will participate in the Seoul Motor Show to promote their products and expand business ties with their South Korean counterparts, the exhibition’s organizing committee said Wednesday. Auto parts makers from Germany, Mexico, Columbia, Israel and the Czech Republic will join the biennial motor show in [...]
SEOUL, Dec. 6 (Korea Bizwire) – Korean auto parts makers are growing more active overseas, backed by factors ranging from personnel costs to the possible global protectionism that may be triggered by U.S. president-elect Donald Trump in line with his election pledges. Castec Korea, a manufacturer of automobile components that supplies parts to global automakers [...]
SEOUL, July 9 (Korea Bizwire) — Auto parts produced by a Taiwanese firm will likely be approved to be used for imported vehicles here, a local auto parts association said Thursday, raising hopes that customers could have their cost burden eased in maintaining expensive foreign vehicles. The Korea Automobile Parts Association (KAPA) said that it [...]
SEOUL, Feb. 2 (Korea Bizwire) — South Korea posted a trade surplus with Japan in the auto parts sector for the first time last year as Japanese carmakers widened sources of imports to lessen risks, industry data showed Monday. According to the data provided by the Korea Trade-Investment Promotion Agency (KOTRA) and the Korea International [...]
SEOUL, July 25 (Korea Bizwire) – LG Electronics, South Korea’s tech giant and Samsung’s arch rival for both the local and overseas markets, plans to enter next “big thing” in the global automotive market: auto parts business. LG will make an announcement at the upcoming International Consumer Electronics Show (CES) in next January to this end. The consumer electronics brand [...]