Display Industry Association Lays Foundation for Entry into Car Aftermarket... 'Expectations for OLED Tuning Market'

Agreement Signed with Korea Automobile Tuning Industry Association

The Korea Display Industry Association announced on the 8th that it signed a business agreement for mutual cooperation with the Korea Automobile Tuning Industry Association at the comprehensive automotive aftermarket exhibition 'Auto Salon Week 2023,' establishing a foothold for entering the automotive aftermarket.

The automotive aftermarket refers to the market formed by additional demand arising from the process after new car sales, including vehicle maintenance and tuning, purchasing accessories, and scrapping. The market size is estimated to be approximately 100 trillion KRW.

Officials from the Korea Display Industry Association and the Korea Automobile Tuning Industry Association are taking a commemorative photo at the business agreement ceremony. / Photo by Korea Display Industry Association

Starting this year through 2027, the Display Industry Association has focused on the rapidly growing automotive display market, which is expanding at an average annual rate of 7.8%, and has built a cooperative foundation to create a display industry ecosystem in the automotive aftermarket. The two associations plan to exchange information and technology, support joint research, collaborate in hosting exhibitions and forums, and build networks to pioneer overseas markets.

Lee Dong-wook, Vice Chairman of the Display Industry Association, stated, "We have secured a cooperative channel connecting the automobile tuning and display industries and will promote K-Display in the tuning industry." He added, "We hope this will serve as a foothold to distribute our high-quality displays, not low-cost displays from competing countries, to the global automobile tuning market."

Currently, the automotive display market is growing by increasing screen sizes and improving resolution. The Display Industry Association pointed out that shipments of vehicle displays over 10 inches have increased by double digits compared to the previous year. They also forecast that demand for replacing displays in existing vehicles with ones reflecting personal preferences and the latest technology will increase.

Transparent OLED installed at the Korea Automobile Tuning Industry Association exhibition hall during Autosalon Week /
[Photo by Korea Display Industry Association]

Domestic automakers are expanding their businesses into various areas such as special vehicles and tuning to prepare for custom car demand. Although the domestic tuning market is currently smaller compared to overseas markets, it has high growth potential. The Display Industry Association believes that the vehicle display market, which has been limited to the premium finished car market, can also grow alongside this. They also predicted, "Due to the nature of tuning demand that pursues premium quality and individuality, OLED may receive more attention."

The Display Industry Association plans to promote the expansion of the vehicle OLED tuning market by producing premium concept cars with OLED applied in cooperation with the Automobile Tuning Industry Association and holding meetings to expand opportunities for inter-industry exchange.

Meanwhile, at Auto Salon Week held from the 8th to the 10th, the Display Industry Association exhibited transparent OLEDs that demonstrate the scalability and excellence of vehicle OLED displays at the exhibition hall operated by the Korea Automobile Tuning Industry Association, promoting domestic display companies' vehicle OLEDs.

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