SEOUL, Dec. 4 (Korea Bizwire) — A trade show will be held in Austria this week to promote products by South Korean auto parts companies, the Korea Trade-Investment Promotion Agency (KOTRA) said Monday.
Korea Autoparts Plaza Magna will begin in Graz, a southern Austrian provincial city, Tuesday with the participation of 12 South Korean manufacturers of engines, gearboxes, interiors and other auto parts in cooperation with Magna Powertrain, the world’s biggest transmission manufacturer, the trade agency said.
The trade promotion agency expects the fair will help South Korean auto parts producers make inroads into the European market as Magna has factories in Germany, Bulgaria and several other European countries.
The trade fair also consists of a presentation by parts producers, a tour of Magna production facilities, and meetings between officials of Magna and South Korean manufacturers.
KOTRA said it will also organize a forum for the research and development of future-oriented automobiles during the trade fair.
In September, KOTRA organized a similar trade show in Detroit and Toronto with the participation of 51 South Korean auto parts firms that make information technology, new materials and powertrain parts for car engines, transmissions, drive shafts, suspensions and wheels.
As many as 85 major North American auto and auto parts manufacturers, including GM, Ford and leading global automotive supplier Magma, were present at the trade show.
The trade promoter also organized a forum in Toronto in September to assist South Korean auto parts firms making inroads into the North American market.