Korea has always been establishing itself as a leader in the automotive technology and it has been pretty much very successful in doing so as the domestic carmakers have just marketed the technology that the nation has in such a beautiful way that the other carmakers of the world are just envying it and are wishing that they had this. So this is how the auto parts sector of the Korean auto industry took flight and has not slowed down in a long time.
Korea is known to export technology and auto parts to various carmakers around the world, and this is not new to the nation, but in the recent times of slowdown in the auto industry, there have been doubts whether the industry will remain as it was or will it be seeing some major slowdown. But this skepticism might just go away as luxury carmaker from Germany by the name of BMW has announced that it will be keeping up the commitment of 2 billion US dollars to the Korean parts that it has made a deal to purchase in the coming year of 2020. SO as this announcement comes, there are hopes that the auto industry will be now flourishing more and we will see some more growth very soon.
This announcement has boosted the confidence of investors in the auto sector of the nation, and this will help with the investments that the nation needs to get the industry at the most efficient running capacity.
Tags : BMW, US ,