KOTRA Supports Mutual Cooperation on Future Cars Between Korea and Japan

Showcase and Consultation Event for Domestic Auto Parts Companies Held for Two Days from the 22nd in Aichi Prefecture, Japan

[Asia Economy Reporter Han Yeju] KOTRA announced on the 22nd that it will hold the 'Korea-Japan Next-Generation Mobility Partnering Project' at the Kariya City Industrial Promotion Center in Aichi Prefecture, Japan, with the participation of 45 Korean small and medium-sized enterprises related to future vehicles.

Aichi Prefecture in Japan is home to world-renowned automakers and parts manufacturers representing Japan, such as Toyota, Denso, and Aisin, who participated in this consultation meeting. Among Japan's 47 prefectures, Aichi alone accounts for 41% (26 trillion yen) of Japan's total automobile production value and 33% (1.67 million units) of production volume, making it the heart of Japan's automobile industry.

Sponsored by the Consulate General of the Republic of Korea in Nagoya, Aichi Prefecture, and Hyundai Mobility Japan, this event, which involved the governments of both Korea and Japan, showcased Hyundai Motor Company's Ioniq 5 electric vehicle and Nexo hydrogen vehicle, marking Hyundai's re-entry into the Japanese market after 13 years, attracting significant interest from Japanese companies. Additionally, at the technology exhibition hall where 45 Korean small and medium-sized enterprises participated, around 400 representatives from 141 Japanese companies visited, focusing on electric vehicle batteries, autonomous driving systems, navigation, and other electronic solutions, as well as green and lightweight material parts sectors, showing great interest in Korean companies' future vehicle technologies.

At the concurrently held 'Korea-Japan Future Vehicle Cooperation Forum,' major corporations from both countries, including Hyundai Mobility Japan and Denso Korea, along with seven Korean future vehicle companies, presented innovative technologies and explored business cooperation measures between Korea and Japan.

Mr. Kaizaki, CEO of the Japanese automotive consulting firm II Network, stated, "Although the Japanese automotive industry is very conservative about change, there is a sense of crisis that the shift to future vehicles is a once-in-a-century transformation period, and there is great interest in the fast-changing products of Korean companies."

Jung Wooyoung, Head of KOTRA's Innovation Growth Headquarters, emphasized, "This project is especially meaningful as it is held in Aichi Prefecture, the center of Japan's automobile industry, which is crucial to Japan's economy and employment. At this time of a new transformation toward future vehicles, we will continue to increase support for mutual cooperation in the future vehicle sector between the two countries."

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