South Korea’s largest automotive components manufacturer, Hyundai Mobis, held its first Automotive Semiconductor Korea (ASK) summit in Seoul, with the aim of promoting greater collaboration among local companies to strengthen the country’s automotive semiconductor supply chain.
The event was hosted by Hyundai Mobis’ president, Lee Gyu-suk, and was attended by 23 companies, including research institutions, automakers, fabless companies, foundries, design houses, packaging companies, and design tool specialists.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Among the companies and organisations that attended were Samsung Electronics, LX Semicon, SK keyfoundry, DB HiTek, GlobalFoundries, Dongwoon Anatech, and the Korea Electrotechnology Research Institute (KERI), which Hyundai Mobis expects will “contribute to domestic automotive semiconductor industry development and core semiconductor localization.”
Hyundai Mobis said in a statement that the event “marks the first joint initiative led by private companies, including Hyundai Mobis, to address the automotive semiconductor industry. Until now, the automotive semiconductor sector has been heavily reliant on foreign products from Europe, North America, and Japan. South Korean companies have now united to form a self-sustaining value chain and create new business opportunities to improve this situation.”
Hyundai Mobis, the main components unit of Hyundai Motor Group, said it plans to play a leading role in fostering the South Korean automotive semiconductor industry, alongside the major companies participating in the forum. It pointed out that “as a global Tier 1 automotive supplier, Hyundai Mobis occupies a strategic position connecting technology and demand between automakers and semiconductor suppliers. Furthermore, the company is simultaneously a fabless company designing semiconductors and a supply chain manager, which positions it as a prime candidate to lead the domestic semiconductor industry.”
Speaking at the event, Lee Gyu-suk, said his company is currently “securing independent semiconductor design capabilities while pursuing joint development with fabless companies and design houses, and expanding cooperation with major foundries. We actively encourage companies specialized in the home appliances and mobile (smartphone) segments to enter the mobility sector, and through this, we will take the lead in building the domestic ecosystem.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHyundai Mobis confirmed that the ASK forum will be held annually, and starting next year, participation will be encouraged from startups and existing companies possessing semiconductor-related technologies. The forum will also open its doors to relevant associations and major institutions.
Hyundai Mobis, citing data from an unnamed global market research firm, suggested that the automotive semiconductor market is currently growing at an average annual rate of 9%. It is projected to grow to around US$ 135 billion by 2030, driven by growth in demand for infotainment and connectivity, advanced driver assistance systems (ADAS), and electrification, which are expected to account for about 70% of the total market.
