The Gyeonggi Provincial Office said that the ten businesses in the province participated in the Shanghai International Exhibition for Auto Parts & Accessories 2005 (Auto Parts Shanghai 2005) held at the Shanghai International Exhibition Center from December 6 to 9, 2005, resulting in $9.2 million worth of supply contracts and $22 million worth of business talks.

The annual event held in Shanghai, a Mecca of production of cars and parts in China, was first held seven years ago. It, along with Automechanika China, is a representative automotive parts exhibition held in China. It is expected that relevant Korean businesses can enhance their business opportunities in China through the event.

A business in Anyang identified only as “A” submitted a mini computer for cars to the exhibition and signed a supply contract worth $4.5 million a year with a Chinese business. A business in Osan identified as “J” succeeded in making a supply contract for brake drums and cables worth $1.48 million. It appears that others goods submitted by businesses in the province also met with positive responses from Chinese businesses.

The provincial office have made continued efforts to help small-sized exporters in the province explore their overseas markets through participation in exhibitions, designating automotive parts, information technology-related products, and electronics products as strategic items.
This year alone, the provincial office helped 30 businesses to sign supply contracts worth $200 million in total and business talks worth $740 million at three automotive parts exhibitions, including the SAE World Congress & Exhibition held in Detroit. As well, 79 businesses in the province participated in the KOAAshow 2005 held at the KINTEX in Goyang in September, resulting in $86 million worth of supply contracts plus $366 million worth of business talks.

Mr. Oh Hu-seok, Head of the International Trade Department, said, “Along with electronic, wireless communication and display products industry, the automotive parts industry, constitutes a core part of the carmaking industry and accounts for a high share in the national economy. The province also has the highest share of automotive parts businesses (217 businesses or 23.8%) in the nation and expects to enjoy the benefit of the current trend for global outsourcing of automotive parts.”