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VDA Members See Growth Chance in S. Korea
First Joint Participation Stand at the Seoul Motor Show
Mercedes Benz SLK McLaren on Seoul Motor Show, 2005

The Association of the German Automotive Industry (VDA) consistently continues its strategy of internationalisation and has for the first time initiated a joint participation stand for its component suppliers at the Seoul Motor Show in South Korea this year. The exhibition which has been included in the international schedule of leading automotive traide fairs of the International Organization of Motor Vehicle Manufacturers (OICA) takes place from April 5 – 15, 2007 in Seoul.

Over the last two years the German automotive manufacturers could strongly develop their export to South Korea – it increased by 23 percent in 2006 and by 53 percent in 2005. Last year the German automotive industry exported vehicles and automotive components worth over 1.5 billion Euro to South Korea; thereof new cars at an export value of 781 million Euro and sub-supplier products for 635 million Euro. The export value rose by 50 percent compared to the previous year. However, the volume, with some 20,000 exported vehicles, is still at a rather low level. The Korean car industry dominates its domestic market with a 96 percent market share.

Still the incremental growth rates of German manufacturers are remarkable: They managed to increase their market share in South Korea eight-fold, to 2.4 percent over the last four years. The Korean market offers growing opportunities particularly to the German automotive supply industry. The VDA presents itself with its member companies at the Seoul Motor Show in order to demonstrate their performance and to establish contacts or strengthen existing relationships .

However, according to the VDA there are still a number of different standards and regulations which limit the German-Korean trade and therefore should be removed as soon as possible. In this regard the VDA would appreciate close co-operation between the partners in South Korea, Germany and the European Union. Last year South Korea has shipped 110,000 vehicles to Germany. Korea's share in the German market has doubled to 4 percent over the last four years.

The joint participation stand, supported by the German Federal Ministry of Economics and Technology, is accommodating 13 sub-suppliers of the German automobile industry under one roof and on an exhibition area of 450 square metres. Participating companies are Mahle, Brose, Leopold Kostal, Hammerstein, Scherdel, Leoni, Frankschal, Rehau, Kamax, Catem, Emitec, Haas and WET. Further VDA members and component suppliers, such as Bosch, Grammer, Siemens or Webasto as well as the automotive manufacturers Audi, BMW, DaimlerChrysler, Porsche and Volkswagen, are presenting themselves at the Seoul Motor Show with their own booths. Many of these companies have been doing business in South Korea for many years.




 

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