CASTEC KOREA, a Korean manufacturer of turbocharged parts, has set up a production line near Ho Chi Minh City in Vietnam in addition apart of China. The labor costs of Vietnam is one-tenth of South Korea'. 50 billion won will be invested in vietnam. South Korean automotive sensor manufacturer Hanzhong NCS clubs will expand cooperation with China and has sign cooperation agreement with two large Chinese auto manufacturers. The first half of next year will officially enter the Chinese electric vehicles and other new energy vehicles. In addition, the US corporate has also played an active role In the process of opening up the local market.
Considering the US government will strengthen trade protectionism, the company has a number of auto parts company named Xiaolin Group will consider to establish production lines in the United States,which will continue to increase the proportion of US sales.
South Korea Overseas Economic Research Institute statistics says, the third quarter, including auto parts enterprises, including foreign direct investment in Korean SMEs reached 1.554 billion US dollars, an increase of 14.3%, the establishment of overseas production legal person, expand the shares and other business investment growth significantly.
