Hanjayeon Accelerates Building Future Car Industry Ecosystem with Paraguay

Expansion of Automotive Industry Technology and Workforce Exchange Between the Two Countries

[Asia Economy Reporter Kiho Sung] The Korea Automotive Technology Institute announced on the 12th that it will collaborate with the Ministry of Industry and Commerce of Paraguay to establish a future car industry ecosystem, aiming to lay the groundwork for domestic automotive parts companies to enter the South American market.

The Korea Automotive Technology Institute reported that on the 9th (local time), it signed a Memorandum of Understanding (MOU) with the Ministry of Industry and Commerce of Paraguay at the CONMEBOL Convention Center in Asunci?n, Paraguay, to establish the Paraguay Mobility Technology Research Institute.

The MOU includes ▲ the establishment of the Mobility Technology Research Institute and exchange of human resources for specialized technical training ▲ technical support for automotive parts research and development (R&D) ▲ discovery of international joint R&D projects.

Following the signing of this MOU, both parties plan to promote the expansion of technology and personnel exchanges in the automotive industry between the two countries, as well as the establishment of a sustainable cooperative ecosystem.

Director Na stated, "The establishment of the Mobility Technology Research Institute is expected to play an important role in the development of Paraguay's automotive industry," adding, "We plan to support technology and human resource exchanges without any setbacks."

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