KOTRA Supports European Exports for Auto Parts SMEs... Full Effort for 'Export Plus'

Operation of Korean Pavilion at Europe's Largest Auto Parts 'Frankfurt, Germany Exhibition'
Support for 57 Companies Including Autonomous Driving Firms... Activities to Attract Expo Also Supported

At the '2022 Frankfurt Auto Parts Exhibition' held over five days starting from the 13th (local time), Peter Feldmann, Mayor of Frankfurt, is seen having a conversation with Gilbeom Lee, Head of KOTRA Europe Regional Headquarters. (Photo by KOTRA)

[Asia Economy Reporter Moon Chaeseok] KOTRA announced on the 18th that it participated in the '2022 Automechanika Frankfurt,' the largest automotive parts exhibition in Europe, by organizing a Korean Pavilion. The exhibition was held in Germany for five days starting from the 13th (local time).

KOTRA simultaneously held side events such as a European automotive market entry strategy briefing and B2B export consultations. It also actively promoted the '2030 Busan World Expo' by operating a promotional booth.

Due to the impact of the pandemic, this exhibition was held offline for the first time in four years since 2018, with 2,756 companies from 68 countries participating. A total of 101 companies from Korea participated, including 57 companies in the integrated Korean Pavilion jointly operated by KOTRA, Gyeongsangbuk-do, and Daegu Metropolitan City.

The exhibition fully reflected recent trends in the European automotive industry, such as technological innovations to secure competitiveness in future vehicles like hydrogen cars and autonomous driving. Korean companies participating in the Korean Pavilion also exhibited related products and actively engaged in consultations with buyers.

On the opening day of the exhibition, Peter Feldmann, Mayor of Frankfurt, visited the Korean Pavilion and showed great interest in Korean companies specializing in autonomous driving LiDAR and high-pressure hydrogen pump technology for hydrogen electric vehicles. As of July, exports of Korean-made electric vehicle motors and sensor measurement components to Europe increased by 150% and 77%, respectively, compared to the same period last year.

The achievements of participating companies are also becoming visible. Company A, a startup with autonomous driving radar sensor technology capable of measuring biometric signals, agreed to continue discussions on a mass production project worth $1.8 million for supplying finished vehicles with German Tier 1 company C. Company B, which originally recorded annual exports of $1 million with exhaust emission reduction devices, recently developed high-pressure piping for hydrogen electric vehicles and is preparing to enter the European market by conducting prototype tests with a German automaker.

KOTRA Frankfurt Trade Center will continue the momentum from this exhibition by hosting the '2022 Global Partnering Europe' project online this month and next. The event will feature 30 European companies and 50 domestic companies in the electric, hydrogen, and autonomous vehicle sectors. Starting with the online purchasing policy briefing for European companies held on the 12th, online B2B consultations will be conducted over two months.

Lee Gilbeom, Head of KOTRA Europe Regional Headquarters, said, "Europe's 'future car transition' will accelerate, with the ban on internal combustion engine vehicle sales in Europe starting in 2035. We will actively support the expansion of our companies' exports to the European market by leveraging this opportunity, contributing to improving the trade balance and strengthening the export competitiveness of key industries."

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