Korean Auto Parts Take Over The World
The Korean automobile industry is thriving consistently and it supplies automobiles and auto parts to almost all well known countries around the world. Besides, they rank sixth in automobile production – no minor feat. Automobiles like Hyundai, Kia and Daewoo have South Korea as their birth place and are thriving companies that have factories, outlets and resellers all around the globe.
The Korean Automobile Industry
The Korean automobile industry is said to have marked its beginning with the invention of the “Sibal” car in the year 1955. However, it was only in the early 1960s that the government announced its support for the promotion of this industry with the “Automobile Industry Promotion Policy”. According to the policy, foreign companies could operate in Korea only in collaboration or joint venture with Korean companies. Kia, Sssang Yong and Saenara were all set up in this way. The 60s also saw the establishment of the Asia Motors Company and the Hyundai Motor Company. Though these companies were set up, they all worked as assembly units and most of the parts were imported from other countries. It was only in the mid 1970s that Korea started developing and manufacturing cars within its borders. This feat was accomplished by Hyundai first. In the 1980s the companies in Korea started venturing into international markets. Though there were some hiccups in the beginning, the merchandise soon took off and there has been no turning back for this industry since then.
Ever since Korea started developing its own cars, many new companies have ventured in the business of supplying exclusive Korean car parts. Such companies have also started emerging in the international front where Korean cars are abundant. In the United States there are many online stores as well as personnel who deal in Korean automobile parts. These companies allow online purchase of the parts. The company then ships the parts to the customers’ location. Many people prefer buying parts from such sites as they offer much better deals. All the customer has to do is purchase the commodity, wait for shipment and once the part is received take the vehicle to a good automobile mechanic to replace the part.
Korean auto parts import inside the United States and other nations are soaring. Korean auto parts are imported not only for the Korean make cars, but also for vehicles made by other international companies like General Motors.
The state of the Korean automobile industry is far better now than what it was in the past. From an industry which used to produce cars out of imported car parts, it has grown into an industry that develops its own cars and exports them as well. The Korean auto parts industry is thriving and has made a threshold of its own in the world automobiles.