December 18th report: Affected by the Korea-US FTA, South Korean auto parts companies have announced large-scale investment plans one after another. Large international companies are also rushing to invest in the Korean market. Japan’s DENSO announced that it will invest 400 billion won in the construction of a large factory in Gyeongsangnam-do, which covers an area of ​​80,000 square meters. Construction will start in July next year and will be completed in 2014. Germany's ELRINGKLINGER company has signed an MOU with Gyeongsangbukdo recently. It will invest USD 10 million to establish an auto parts factory. The data shows that since the Korea-US FTA came into effect, the value of South Korean auto parts exports to the United States reached US$3.827 billion, an increase of 14.4% over the same period of last year. Experts pointed out that due to the reduction of tariffs on Korea's auto parts market is unusually active, it is expected that in March 2016, zero tariffs will be imposed on exports to the United States, and South Korean auto exports will increase rapidly.
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