KOTRA Operates Korean Pavilion at Latin America's Largest Auto Parts Exhibition

Participation in Brazil 'AUTOMEC 2023'
Supporting Latin America Market Entry for Auto Parts SMEs

KOTRA announced on the 24th that it will operate the Korean Pavilion at 'AUTOMEC 2023,' the largest automotive parts exhibition in Latin America, held in S?o Paulo, Brazil, until the 29th.

The Korean Pavilion, operated together with Ain Global, will feature 10 companies related to automotive parts. Marking its 15th edition this year, this exhibition is the largest automotive parts exhibition in Latin America, with national pavilions participating from Asia, Europe, and North America. Approximately 1,500 automotive parts companies participated in the previous event held in 2019.

Brazil hosts 27 global automakers, including Hyundai Motor and GM, and has the largest used car market in Latin America. More than 80% of locally produced vehicles are flexible-fuel vehicles that can use both ethanol and gasoline simultaneously, and the growth is expected to continue beyond 2040 due to the government's ethanol blended fuel vehicle promotion policy.

In line with the characteristics of the local automotive market, KOTRA will hold a Brazilian automotive parts investment seminar and both online and offline export consultation meetings alongside operating the Korean Pavilion. At the investment seminar, local automakers and automotive parts experts will explain the sustainability of the internal combustion engine parts market and the necessity of local investment. On-site at the Korean Pavilion, face-to-face consultations between domestic participating companies and buyers will be conducted, and after the exhibition ends, efforts will focus on generating results through online partnering consultations.

Kim Sang-soon, head of KOTRA's Latin America regional headquarters, said, "Along with Mexico, which ranks 6th in global automobile production, Brazil has the 7th largest domestic market and, since the electric vehicle industry is not yet active, it can be the largest demand market for internal combustion engine parts." He added, "Through operating the Korean Pavilion at 'AUTOMEC 2023,' we will actively support the entry of domestic automotive parts companies into Latin America using Brazil as a base."

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