Jang Seob Yoon
Research expert covering South Korea
Auto suppliers in South Korea - statistics & facts
Together with its automotive industry, South Korea's auto parts supplier industry is rated as one of the world’s best. The industry boasts a sales value well into the multi-billion U.S. dollar range. Domestic auto suppliers have remained competitive in the global parts market by offering eco-friendly parts, advanced features, and modularization. Furthermore, the nation's position as an IT powerhouse is expected to benefit local auto parts manufacturers in this regard.
Who are the major auto suppliers in South Korea?
The highest-ranking company among major South Korean auto part makers was Hyundai Mobis, placing seventh among the world’s top one hundred auto suppliers. Three other companies featured on the list were also members of the Hyundai Motor Group conglomerate: Hyundai WIA, Hyundai Transys, and Hyundai KEFICO. As the leading South Korean parts maker, Hyundai Mobis continued to record sales revenue figures of multi-trillion South Korean won. The other companies featured on the aforementioned list were not as prolific in terms of sales, but nevertheless are significant players in the market.What is the car tire market like in South Korea?
The South Korean automobile tire market is led by domestic producers. The market was largely dominated by two companies, Kumho Tire and Hankook Tire, with Nexen Tire also providing healthy competition. Although it ranked second place in terms of domestic market share, Hankook Tire was South Korea’s leading tire manufacturer on the global stage. The company’s sales revenue maintained steady levels in recent years, with most of the company’s revenue coming from overseas sales, such as exports of high-quality tires to premium car makers such as Mercedes-Benz.Which companies produce car infotainment parts in South Korea?
Many automobiles these days have various electronics such as dashcams or navigation systems installed. South Korean companies are also involved in manufacturing these components. For example, LG Display produces LCD and OLED panels for domestic use and export, and boasted a significant share in the global automotive display market. Fellow LG Corporation subsidiary LG Electronics sells automobile infotainment devices, vehicle software, and autonomous driving technology. Thinkware Corporation, another Korean automobile electronics manufacturer, made billions of won just from dashcam sales.
