KOTRA Hosts Event Supporting 'SobuJang Companies' Entering ASEAN in Bangkok, Thailand

Global Partnering Asia Event Held

[Asia Economy Reporter Kim Ji-hee] KOTRA announced on the 4th that it held the 'Global Partnering Asia' event on the 3rd in Bangkok, Thailand, together with the Ministry of Trade, Industry and Energy and the Federation of Thai Industries (FTI). The event was attended by 40 Korean companies in the automotive and electrical/electronics sectors and 60 local global companies including Toyota Daihatsu, Ericsson, and Toshiba.

Now in its third year, 'Global Partnering Asia' supports Korean companies in the materials, parts, and equipment sectors to enter the ASEAN regional value chain. This year, events were organized in the automotive and electrical/electronics sectors, including the ▲Korea-Thailand Global Partnering Seminar ▲online consultation meetings ▲company promotional booths. In particular, active discussions on cooperation in the electric vehicle and smart electronics fields took place.

As of last year, Thailand ranks 9th in the world and 1st in ASEAN in automobile production. Additionally, Thailand is actively promoting its Thailand 4.0 policy and nurturing electric vehicles as a strategic industry. The Thai government has set a goal to increase electric vehicle production to 750,000 units annually, accounting for 30% of total production by 2030. Complete vehicle manufacturers such as Toyota Daihatsu and Mitsubishi are quickly responding to these changes by expanding local procurement of electric vehicle production lines and key parts.

At the seminar, Sompol Tanadumrongsak, Chairman of the Thai Automotive Parts Association, and Sanpetch Tangsawapak, Vice Chairman of the Electric Vehicle Association, stated, “The Thai automotive industry will be centered on electric vehicles in the future, so a rapid change in the value chain is inevitable,” and “We want to expand cooperation with Korea.”

The value chain of Thailand's electrical and electronics industry is also expected to change rapidly. In his presentation, Koppakan Watanavrangkul, Chairman of Toshiba, said, “Smart electronics has become a global trend,” and “As global makers are smartening their products, major vendors also need to prepare and respond.”

Kim Hyun-tae, Head of KOTRA Bangkok Trade Center, said, “Local vendors in Thailand recognize their lack of technological capabilities as a crisis amid rapid industrial changes,” and “We will actively support Korean companies to utilize this as a cooperation opportunity and enter the ASEAN value chain.”

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