Busan Jugong, Increase in Overseas Commercial Truck Parts Supply..."Expansion of Truck Parts Sales Due to Global Logistics Crisis"

[Asia Economy Reporter Yoo Hyun-seok] Busan Jugong, a specialized automotive parts company, announced on the 16th that overseas sales are expected to grow rapidly until next year due to increased global supply of commercial truck parts.

A company official stated, "Since the first half of this year, the supply of parts for overseas trucks has increased explosively, and it is expected to achieve overseas sales of over 100 billion KRW this year alone," adding, "As the global logistics crisis caused by the impact of COVID-19 prolongs, the supply volume of overseas truck parts is expected to expand significantly until next year."

Busan Jugong is an automotive parts specialist supplying brakes, reducers, and other components to domestic and overseas finished vehicle manufacturers. It supplies passenger car parts to Hyundai Motor and Kia Motors domestically, and overseas, it supplies commercial truck parts through Meritor, a global automotive parts maker.

Busan Jugong supplies air disc brakes and rear differential axle housings applied to global vehicle makers Volvo and Scania trucks, and through its major customer Meritor, plans to supply approximately 50 billion KRW worth of truck parts by the first half of next year.

Busan Jugong operates a One Line System that produces from casting, electrocoating painting, to precision machining within its own manufacturing line. The company minimizes process movement from material production, painting, precision machining, to product loading/unloading and transportation, which is an advantage for consistent quality control.

Busan Jugong maintains long-term strategic partnerships with domestic and overseas automotive makers. Currently, it is jointly developing new products for vehicle lightweighting and eco-friendly vehicles such as hydrogen and electric cars with automotive makers.

A company official said, "Meritor has been an overseas customer partner for over 30 years, and the supply of commercial truck parts is expected to continue expanding in the future," adding, "Due to the current increase in supply volume, the manufacturing plant operates in three shifts, and precision machining runs at full capacity without any days off." He continued, "We will do our best to ensure there are no disruptions in product manufacturing and supply next year as well."

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