The Korean automobile industry is the most important part of Korean industry. In the first half of 2019, due to steady increase in exports, the production volume of automobile reached 2020332, up by 1.2%.

However, in terms of domestic sales, although the government has adopted policies to stimulate domestic sales such as the exemption of individual consumption tax, domestic sales dropped 0.3% to 758066 due to domestic and foreign economic instability and the resulting shrinking consumer psychology.

Judging from the local production of Korean vehicle manufacturers, although production increased in the first half of 2019 in the americas, including the United States, it decreased sharply in China.

In addition, the production of fasteners in South Korea is analyzed from different demand industries. The automotive sector accounts for 73.6%, the infrastructure sector accounts for 4.3%, the electronics sector accounts for 4.9%, the market circulation accounts for 4.1%, and the other sectors account for 10.6%.

Automotive industry in the demand for fasteners accounted for the largest proportion, Chinese fasteners in the Korean market potential still exists! 

The environment of Korean fastener industry is undergoing profound changes, but many Korean fastener companies still choose to International Fastener Show China, looking for new exchanges and cooperation! Fastener Expo Shanghai will be held on June 22-24, 2020.