South Korea Automobiles and Auto Parts Tenders

Global giant: South Korea's auto industry ranks 5th in the world, exporting over 2.2 million cars and generating $54 billion in 2022.
Parts for the world: Its auto parts industry is a powerhouse too, contributing 5% of global output. In 2021, it raked in $80.8 trillion in sales.

Big spender: The South Korean government actively supports the auto sector through procurement. It spends billions annually on vehicles and parts.
Eco-conscious: Sustainability is key. The government prioritizes electric and eco-friendly vehicles, pushing innovation and reducing emissions.

Top picks: From sedans and SUVs to engines and transmissions, the government buys a wide range of automobiles and auto parts.
Tech focus: Advanced driver assistance systems, autonomous driving technology, and connected car solutions are hot buys.

Several key authorities -
Ministry of Trade, Industry and Energy: Sets the overall direction for auto procurement, promoting domestic players and technological advancement.
Public Procurement Service: Handles the nitty-gritty of bidding and awarding contracts, ensuring transparency and efficiency.

Domestic dominance: Hyundai, Kia, and LG are major winners, leveraging their expertise and government support.
Global players join the race: Bosch, Denso, and Magna are also in the mix, showcasing the industry's international reach.

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