A key chassis component developed with government support by several vehicle parts producers and a research institute has attracted export orders worth $1.4 billion since it was unveiled at the end of September.
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The Korea Times said the development of the chassis corner module took four years of research and development and was supported by the Ministry of Commerce, Industry and Energy (MOCIE) which allocated 8.2 billion won of its technology development fund to the project, led by the Korea Automotive Technology Institute, Mando and Daewon Kangup.
The chassis corner module combines the strut or shock absorbers of a car with the braking systems in a single part.
A MOCIE official said this reduces the assembly work that goes into this part of the car from the current 12 hours to four and not only eases the manufacturing process but ensures the safety of the car and cuts costs.
He added that major global vehicle manufacturers are poised to adopt the part for their new cars.
