Auto sales in Korea are projected to shrink by 3.5 percent in 2021.
Nine Korean companies made it on the list of the top 100 auto parts companies compiled by U.S.-based Automotive News, based on their 2020 revenues.
Overseas auto sales in June for Korea's five carmakers--Hyundai Motor, Kia Motors, GM Korea, Renault Samsung Motors and SsangYong Motor-- jumped 32 percent on year to 522,786 units.
The global semiconductor shortage is continuing to take a toll on automakers in Korea.
Even auto parts makers in Korea are feeling the pinch from the global chip shortage.
Hyundai Motor introduces the all-new Kona N sports utility vehicle (SUV) during a digital showcase, Tuesday. This is the first SUV released under the carmaker’s high-performance N brand.
Hyundai Mobis is aiming to transition from a traditional auto parts supplier to a platform provider that combines hardware and software technology, Executive Vice President Jung Soo-kyung said on Wednesday.
Korean automakers and related parts makers are joining a new industrial base in the southern part of the United States, ditching the Rust Belt area which used to be at the center of the country's industrial boom before the 1980s.
Korea’s auto industry is increasingly divided into two groups, one capable of handling explosive demand and looking to a bright future and the other on the brink of bankruptcy.
A global chip shortage that started in the auto industry and spread to other businesses has driven up the shares of Samsung Electronics, generating speculation that the Korean chipmaker might go into the auto chip business in a big way.