KOTRA Opens Market for Auto Parts Through 'Online Consultation'

[Asia Economy Reporter Su-yeon Woo] KOTRA is set to pioneer new markets for domestic automotive parts companies. On the 8th, KOTRA announced that it will hold a pre-online consultation event related to automotive parts companies for five days starting from the 13th, in connection with the 'Automotive Industry & International Transport Machinery Parts Exhibition (KOAA·GTT SHOW)' hosted with Ain Global in Incheon this November.

The automotive parts industry, a key export sector for Korea, is facing rapid changes such as a decline in orders from finished car manufacturers after the COVID-19 pandemic and a paradigm shift toward non-internal combustion engine vehicles.

In response to the global value chain restructuring, KOTRA aims to help small and medium-sized automotive parts companies recover sales and diversify their business partners. Considering the difficulties in directly participating in overseas exhibitions or making local business trips, KOTRA is promoting online briefings and video consultations through a non-face-to-face method.

KOTRA will hold a "Pre-Online Consultation" for five days starting from the 13th in connection with the "Automotive Industry and International Transportation Machinery Parts Exhibition (KOAA·GTT SHOW)" held in Incheon in November. Our automotive parts companies are conducting export consultations online. Photo by KOTRA

The 'Korea-US Automotive Partnership' and 'Korea Auto Parts Plaza Mexico,' which were planned to be held in the US and Mexico in the first half of the year, will be conducted as webinars and online consultation events in the second half. Industry briefings by major countries and global corporate purchasing policy briefings will also be held online on an ongoing basis.

KOTRA has also established social media channels to increase communication in the materials, parts, and equipment sectors. Companies can search for services, receive overseas market news, and resolve inquiries through chatbots. To access this, search for 'KOTRA Sojae Bupum Team' on KakaoTalk and add the channel.

Kim Sang-mook, Head of KOTRA’s Innovation Growth Division, said, "We expect automotive parts demand to gradually recover," adding, "We will utilize all available online and offline means to discover opportunities."

This content was produced with the assistance of AI translation services.