In September Korea exported US$11.8bn worth of auto parts, up 31% from the previous month and 10% year-on-year.
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Local industry sources say that Korean auto parts makers are expanding their customer base beyond Korean automakers’ overseas plants to include foreign carmakers such as Toyota, Volkswagen and GM.
According to a recent report by the Korea Institute for Industrial Economics and Trade (KIET), 11 parts makers affiliated with Hyundai or Kia Motors, including Hyundai Mobis, posted an average operating profit ratio of 9.3 percent in the first half of this year.
