Insurances.net
insurances.net » Auto Insurance » Koreas Contribution To The Automobile Industry
Auto Insurance Life Insurance Health Insurance Family Insurance Travel Insurance Mortgage Insurance Accident Insurance Buying Insurance Housing Insurance Personal Insurance Medical Insurance Property Insurance Pregnant Insurance Internet Insurance Mobile Insurance Pet Insurance Employee Insurance Dental Insurance Liability Insurance Baby Insurance Children Insurance Boat Insurance Cancer Insurance Insurance Quotes Others
]

Koreas Contribution To The Automobile Industry

Koreas Contribution To The Automobile Industry

The rising popularity of Korean auto parts has propelled the Korean auto industry to new heights

. As days passed by, Korea became one of the most advanced automobiles manufacturing nations in the world with respect to technology, design, and, most importantly, performance. Korea now possesses several in-house brands which have made a global mark.

How did Korea become such a big name in the Automobile Spare Parts industry?

The growth of the Korean auto parts and the automobile industry has been a simultaneous one and was quite interesting. Initially Korea was a place where auto parts were imported from Japan and the United States for assembling. There was no concept of "Korean auto parts" at all. It so happened that in the year 1955 a Korean made engine was set up in a modified US jeep which later became an official Korean car that opened the gate for the Korean automobile parts manufacturers.

Today Korean car parts and locally manufactured cars have reached a new height of popularity and you will find huge brand names across the globe. One of the key factors for the growth of the Korean auto industry was the "Automobile Industry Promotion Policy" which had prevented foreign players from entering and operating in the Korean markets. This gave the Korean auto industry the incentive and ample opportunity to spread its wings, without having to compete with the international players in the domestic markets. This industry became so lucrative that people from other businesses migrated to the automobile industry, as small businesses related to denso coil manufacture were also very profitable.Koreas Contribution To The Automobile Industry


Korea then developed the Hyundai Pony and began to export the same in the year 1976. Then the most popular brand Hyundai was launched in the international automobile space. Korea now stands at the fifth rank in terms of automobile production volume. Today, Korea ranks fifth in terms of automobile production volumes and sixth in terms of volume of exports. The success of Korean auto parts like Ford wheel hubs, which have been responsible for creating world-class vehicles, is a well-established fact.

Korean Auto parts meet International standards: Korean auto parts manufacturers have met the expectation of international car manufacturers very well so much so that established auto giants like Volkswagen and General Motors have shown active interest in doing business with Korean pulley manufacturers, for their upcoming models. This has created a way for export fairs to be held with a handful of such prominent names that have shown the eagerness to get associated with auto components manufactured in Korea. Even Japan has shown interest in importing automotive parts from Korea, which is indeed a reason to boast about as Japan never compromises on quality. Japanese are known for being extremely specific about what they use in their products. The fact that they are looking to tie up with Korean counterparts is a valid certification of the superiority of automobile parts manufactured in Korea. Hence, Korean auto r parts have come forward as suitable alternatives for global car makers, which have helped them to achieve what they wish, in terms of quality.

by: Jung-Yong
Reach Out Behind The Myths Surrounding Auto Insurance Auto Body Shop Rip-offs: Things To Watch Out For [bay Ram Collision Center, Hayward Ca] Why It Is Important To Renew Your Car Insurance? Auto Insurance Is A Must Have Today The Two Main Types Of Car Insurance Services Hybrid Bats Are Becoming More Popular As The Years Go By Discussing Young Drivers Insurance Discussing Young Drivers Insurance Finding The Best Auto Insurance Companies Get A Great Deal On Your Car Insurance Coverage The Practicality Of Motorcycle Transport Save Some Bucks On Auto Insurance Go Step By Step To Enjoy Benefits Of Auto Lease
Write post print
www.insurances.net guest:  register | login | search IP(52.86.227.103) Virginia / Ashburn Processed in 0.012749 second(s), 6 queries , Gzip enabled debug code: 12 , 3655, 952,
Koreas Contribution To The Automobile Industry Ashburn