GWANGJU < invest Korea

According to Yonhap News,

(GWANGJU=Yonhap News) Gwangju announced establishment of the 'Gwangju Automotive Aftermarket Council' comprising 40 automotive components suppliers. The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, re-manufacturing, distribution, retailing, and installation of vehicle parts, equipment, and accessories after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer.

The city agreed on cooperation with the Korea Automobile Parts Association in April for establishment and operation of the council, bench-marking, and vitalization of the local alternative components market.

Gwangju and related agencies have provided support for exhibition and exposition, proposal for deregulation of design patent, as well as council office and dedicated workforce.

The city plans to nurture the automotive aftermarket as the core local component industry and hold a National Assembly forum to discuss measures to promote the market.

"The automotive aftermarket is demonstrating annual growth of 3~5% despite global economic recession. The city will actively support related industries for future growth and job creation," said an official of Gwangju City.

sangwon700@yna.co.kr

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