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S Korean auto firm delegation to visit

The Taiwan External Trade Development Council (TAITRA, 外貿協會) is inviting domestic manufacturers to take part in consultations with South Korean auto companies on automotive parts and accessories procurement on May 19 in Taipei, a TAITRA official said yesterday.

The Korea Trade Investment Promotion Agency will send a delegation to Taiwan to meet with local automotive parts and accessories makers at the invitation of TAITRA, the official said.

Noting that both the quality and competitive prices of auto parts and accessories made in Taiwan are internationally recognized, the official said that starting from this year, TAITRA will help domestic manufacturers explore the South Korean market after focusing on Europe, the US and Japan.

According to statistics released by the South Korean government, the value of exports of South Korea-made automobiles this year is forecast to reach US$44.5 billion, up 17 percent from the previous year.

To sharpen their competitiveness in international markets, major South Korean auto firms will invest 3.42 trillion won (US$3.64 billion) this year to develop new technologies in cooperation with automotive parts and accessories manufacturers, the official said.

Domestic automotive parts and accessories manufacturers wishing to participate in the consultations must register with TAITRA by Friday, the official said.
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