Number of auto parts suppliers South Korea 2013-2023
In 2023, there were a total of 691 auto parts manufacturers in South Korea. That year, Hyundai and Kia had the most number of domestic suppliers from which they received auto parts.
Hyundai leads growth in South Korea’s auto parts sector
Hyundai Mobis, along with several other South Korean auto parts manufacturers, ranked among the world's top automobile parts suppliers by sales value. It held the highest position among Korean companies, while other affiliates of Hyundai Motor Group were also included in the rankings. In recent years, Hyundai Mobis' sales revenue had shown a steady upward trend.
Shifting trends in South Korea's auto parts industry
The number of auto parts manufacturers in South Korea has steadily decreased, reflecting changes within the domestic industry. This drop in manufacturers happened alongside a fall in the export value of auto parts from the country. At the same time, the import value of auto parts rose, showing a shift in trade patterns and a growing dependence on foreign suppliers to meet domestic demand for components.
