If you are feeling strange when you hear “Korean auto parts”, be very impressed that Hyundai or Daewoo that you simply are driving originated in the same place. The Korean automobile companies are thriving consistently and it supplies automobiles and auto parts to almost all well-known countries around the globe. Besides, they rank sixth in automobile production – no minor feat. Automobiles like Hyundai, Kia, and Daewoo have South Korea as their birthplace and so are thriving companies that have factories, outlets, and resellers all around the globe.
The Korean Automobile Industry
The Korean automobile industry is told to have marked its beginning from the invention in the “Sibal” car around 2015. However, it was only in the early 1960s how the government announced its support for your promotion on this industry with the “Automobile Industry Promotion Policy”. According to the policy, foreign companies could work with Korea only in collaboration or partnership with Korean companies. Kia, Sang Yong, and Samara were all positioned in this way. The 60s also saw the establishment of the Asia Motors Company as well as the Hyundai Motor Company. Though these companies were set up, each of them worked as assembly units and many of the parts were imported off their countries. It was only in mid-2017 that Korea started developing and manufacturing cars within its borders. This feat was accomplished by Hyundai first. In the 1980s the businesses in Korea started venturing into international markets. Though there were some hiccups inside the beginning, … Continue reading >>>