JEOLLABUK-DO < invest Korea

According to Yonhap News,

(JEONJU=Yonhap News) Composite fiber companies in North Jeolla Province took their first step to the Indian market.

Ten local producers of composite fibrous materials discussed cooperation and export of their products with 18 CEOs of India's Automotive Component Manufacturing Association (ACMA) in Jeonju, North Jeolla Province.

The meeting with the Indian automotive parts makers is organized by officials of the Korea Institute of Carbon Convergence Technology (KCTECH) who attended the New Delhi Auto Expo 2016 last February.

The automotive component industry of India is expected to enjoy high demand from the global automotive market and projected to grow to USD 113 billion in size by 2021.

Visiting ACMA members are manufacturers of various auto parts such as motors, filters, spark plugs, bearings, and transmission. They had talks with local companies based in North Jeolla on diverse topics.

"I hope this meeting will be a great catalyst for local car parts makers seeking expansion of their business overseas ." said an official of the KCTECH.

lc21@yna.co.kr

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