South Korea as One of the Leading Global Automotive Exporters

KIMS BRIDGE
Oct 2, 2017
2 min read

BizVibe Examines South Korea as One of the Leading Global Automotive Exporters

By Business Wire, Sept. 26, 2017

LONDON--(BUSINESS WIRE)--As the global automotive market continues to thrive, many of the world’s leading automotive manufacturing countries have witnessed growth at a steady rate for auto exports. South Korea is one of the leading players in the global automotive market where international auto trade has been performed at an excellent level in recent years. Today, many of the major automotive manufacturers in South Korea, such as Hyundai, Kia, and Daewoo have grown to become some of the largest automakers and suppliers in the global automotive market.

BizVibe recently launched a business networking platform to connect like-minded buyers and sellers from the South Korean automotive market. Aimed to make complex processes like vendor selection, sourcing quotes, quality control assessment, supply chain management, and the overall B2B sourcing and prospecting cycle simple and smarter.

How South Korea’s Automotive Industry Became the 6th Largest in the World

BizVibe is home to over 7 million companies around the world, including many in South Korea’s automotive industry. In a recent article titled South Korea’s Automotive Industry: Remains One of the World’s Largest, BizVibe takes a look at South Korea’s dominance in both the production and exports in the global automotive market.

BizVibe notes that South Korea produced over 4.2 million auto vehicles in 2016, including about 3.9 million units of passenger cars and 0.37 million units of commercial vehicles. The total auto production makes South Korea the world’s 6th largest automotive manufacturing countries in 2016. Among all the vehicles produced in South Korea, 68.3% of the production is exported, making it one of the world’s largest automotive exporting nation. The total value of South Korea’s automotive exports surpassed US$74.7 billion last year; representing a 13.4% share of total national exports, making automotive the top exported products in South Korea.

BizVibe’s Business Networking Platform for the South Korean Automotive Market

The global automotive market has always been one of the most lucrative industries in the world and cars are the second most traded product in the global market. When it comes to operating businesses in the automotive sector, forming partnerships with reliable automotive manufacturers in South Korea is a step in the right direction for taking your business to the next level among the elites.

However, searching and trying to build connections with these top auto companies and auto parts suppliers is not an easy job. That’s why many automotive buyers and dealers are using BizVibe to network with all the leading automotive companies in South Korea.

- - - - - - -