DAEGU < invest Korea

According to Yonhap News,

(DAEGU=Yonhap News) The buyers from the U.S. automaker company Ford and its first partnership companies and auto parts companies visited auto parts manufacturing companies in Daegu, and they had export consultations.

According to the City's announcement on December 20, five buyers from North America, including Ford, visited 16 local companies in Daegu from December 17 to 19, on invitations by Daegu Technopark (Daegu TP).

A total of 39 export consultations brought the consultation amount of USD 14 million (about KRW 15.8 billion) and the contracted amount of USD 2.2 million (about KRW 2.5 billion).

The buyers from the automakers and auto parts companies visited Daegu to find and expand new suppliers of auto parts. They had confirmed local factories, technological R&D facilities, production lines before engaging in export consultations.

Ford visited two companies and had in-depth consultations on equipment for transmission and air conditioning system. The companies had visited Ford in the U.S. in the late June, and had a first consultation. The visit this time was for the U.S. buyers to confirm the Korean companies' production line.

The auto parts maker, Grupo Antolin, visited an automotive interior manufacturer and requested a cost estimation for newly developed products. Commuter Cars, an electric vehicle manufacturer, and Ampel, a company making electronics for automobiles, were interested in companies dealing with battery parts and lighting parts for electric vehicles, respectively.

An official of the City said, "The auto parts industry is an important axis that leads the economy of the city. The city will actively support local auto parts companies that are in need of overseas export markets."

realism@yna.co.kr

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Source Text

** This article was translated from Korean.

Source: Yonhap News (December 20, 2018)