The economy of South Korea is the 4th largest in Asia and the 11th largest in the world. It is a mixed economy dominated by family-owned conglomerates called chaebols; however, the dominance of the chaebol is unlikely to last and engenders risk of slowing down the transformation of Korean economy for the benefit of future generations. South Korea is known for its spectacular rise from one of the poorest countries in the world to a developed, high-income country in just a few generations. This economic growth is called by some a miracle, and described as the Miracle on the Han River, which has brought South Korea to the ranks of elite countries in the OECD and the G-20. South Korea still remains one of the fastest growing developed countries in the world following the Great Recession. It is included in the group of Next Eleven countries that will dominate the global economy in the middle of the 21st century.
The automotive industry is a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest economic sectors by revenue. The automotive industry does not include industries dedicated to the maintenance of automobiles following delivery to the end-user, such as automobile repair shops and motor fuel filling stations.
The International Trade Administration (ITA) is an agency in the United States Department of Commerce that promotes United States exports of nonagricultural U.S. services and goods.
SAE International, initially established as the Society of Automotive Engineers, is a U.S.-based, globally active professional association and standards developing organization for engineering professionals in various industries. Principal emphasis is placed on transport industries such as automotive, aerospace, and commercial vehicles.
The automotive aftermarket is the secondary market of the automotive industry, concerned with the manufacturing, remanufacturing, distribution, retailing, and installation of all vehicle parts, chemicals, equipment, and accessories, after the sale of the automobile by the original equipment manufacturer (OEM) to the consumer. The parts, accessories, etc. for sale may not be manufactured by the OEM. According to a report by the International Trade Administration in the Department of Commerce, "Aftermarket parts are divided into two categories: replacement parts and accessories. Replacement parts are automotive parts built or remanufactured to replace OE parts as they become worn or damaged. Accessories are parts made for comfort, convenience, performance, safety, or customization, and are designed for add-on after the original sale of the motor vehicle."
Founded in 1914, the National Foreign Trade Council (NFTC) is an American trade association advocating an open, rules-based international trade system. It serves its hundreds of member companies in activities encompassing international trade policy, international tax policy, and human resources. The NFTC is headquartered in Washington, D.C. and has an office in New York City. Its current president is Rufus Yerxa
Hafei, officially Hafei Motor Co., Ltd., is a Chinese automaker that manufactures sedans; MPVs; and mini vehicles, small trucks and vans for commercial use. It is currently a subsidiary of the Chang'an Automobile Group.
Toyota Tsusho Corporation is a sōgō shōsha, a member of the Toyota Group. Toyota Tsusho has a worldwide presence through its many subsidiaries and operating divisions, including over 150 offices, and 900 subsidiaries and affiliates around the world. Its main business is supporting Toyota Motor's automobile business and other Toyota Group companies, but Toyota Tsusho's business is very diverse, spanning industrial, commercial, and consumer sectors. Business areas run the gamut, including industrial raw materials, agricultural products, and high technology.
Japan's major export industries include automobiles, consumer electronics, computers, semiconductors, copper, iron and steel.
A voluntary export restraint (VER) or voluntary export restriction is a government-imposed limit on the quantity of some category of goods that can be exported to a specified country during a specified period of time. They are sometimes referred to as 'Export Visas'.
The Export–Import Bank of China is one of three institutional banks in China chartered to implement the state policies in industry, foreign trade, diplomacy, economy, and provide policy financial support so as to promote the export of Chinese products and services. Established in 1994, the bank is subordinated to the State Council.
The Auto Care Association is a not-for-profit trade association based in Bethesda, MD. Auto Care Association’s nearly 3,000 members and affiliate companies, represent approximately 150,000 businesses that manufacture, distribute, sell and install motor vehicle parts, accessories, tools, equipment, materials, supplies, and services. Representing suppliers, distributors, retailers, service providers, program groups, manufacturers’ representatives, educators, and publishers, the Auto Care Association protects and advances the interests of businesses providing aftermarket products and services for all classes of motor vehicles.
The Automobile Manufacturers Association was a trade group of automobile manufacturers which operated under various names in the United States from 1911 to 1999.
The automotive industry in South Korea is the sixth-largest in the world measured by automobile unit production and the fifth-largest by automobile export volume.
The Ministry of International Trade and Industry, abbreviated MITI, is a ministry of the Government of Malaysia that is responsible for international trade, industry, investment, productivity, small and medium enterprise, development finance institution, halal industry, automotive, steel, strategic trade. The ministry has its headquarters at the Menara Miti on Jalan Sultan Haji Ahmad Shah in Kuala Lumpur. It is one of the three ministries that has not moved to Putrajaya.
The Australian Automotive Aftermarket Association (AAAA) is an automotive industry association that represents the automotive aftermarket parts and accessories industry and companies that are involved in manufacturing, re-manufacturing, wholesaling, distributing and retailing of vehicle parts, tools, equipment, accessories and services. Established in 1980, the AAAA represents the interests of businesses in this particular market segment on a national level.
The Fujian Motors Group is based in the Fujian Province, China and was founded in 1992.
South Africa is traditionally the leader in Africa of the automotive industry and now produces more than half a million automobiles annually of all types. While domestic development of trucks and military vehicles exists, cars built under license of foreign brands are the mainstay.
As of 2017, the Thailand automotive industry was the largest in Southeast Asia and the 12th largest in the world. The Thailand industry has an annual output of near two million vehicles, more than countries such as Belgium, the United Kingdom, Italy, Czech Republic, and Turkey.
