(Last updated: 23 May 2011)

Trends and opportunities

‘The Korean Automotive Market Report 2010 – Opportunities and Trends’ (below) has been commissioned by Austrade and prepared from market research compiled by Spire Consulting. The report provides a detailed insight into the Korean automotive industry.

Following a period of rapid growth, Korea now holds the position as the world’s fifth largest automaker. Its position reflects both the integral part the local industry plays in the Republic of Korea’s economy and the automotive sector globally.

In 2009, the Korean automotive sector had an annual production rate of 3.5 million vehicles (local automakers’ domestic production only) and comprised of five major automakers, two commercial vehicle automakers, 889 module companies and Tier 1s, over 3,000 Tier 2 and Tier 3 parts markers, material suppliers and supporting firms.

Successive government policies over the past two decades have seen an opening up of the Korean auto industry to attract global suppliers and allow for foreign imports, whilst strengthening the local industry’s capabilities and infrastructure.

This 100-page report looks at the industry’s development and explores the history and current status of the key automakers and auto parts makers. It also explores market trends and Korean government policies, and their likely impact on the local industry and those seeking to enter the market.

Opportunities for the Australian automotive sector

For the Australian automotive industry the key opportunities lie in green and intelligent cars, weight reduction material, and innovative and high quality auto components.

More specifically, the move towards green and intelligent cars has seen growing demand for light metals, fuel efficiency technology, and high-tech intelligent safety and convenience devices, vehicle electronics, engine development, and vehicle body design.

For more detail and statistics, you can read the report:

• The Korean Automotive Market Report 2010: Opportunities and Trends –
  Part 1
• The Korean Automotive Market Report 2010: Opportunities and Trends –
  Part 2

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Contact details

The Australian Trade Commission – Austrade – is the Australian Government’s trade and investment development agency.

Through Austrade’s network of offices in over 50 countries, we assist Australian companies to succeed in international business, attract productive foreign direct investment into Australia and promote Australia's education sector internationally.

For more information on how Austrade can assist you, contact us on:

Australia ph: 13 28 78 | Email: info@austrade.gov.au

A list of Austrade offices (in alphabetical order of country) is also available.