Trade, Industry and Energy Minister Lee Chang-yang chaired the Automobile Parts Industry Strategy Roundtable on May 23 at the Four Seasons Hotel Seoul, which was held to support the auto parts industry’s response to the automobile industry’s paradigm shift towards electrification, intellectualization and autonomous driving.

Prior to the Roundtable, Minister Lee attended the memorandum of understanding (MOU) signing ceremony, where the Korea Auto Industries Corp. Association (KAICA) and seven other industry associations agreed to make joint efforts in strengthening the competitiveness of auto parts makers and responding to future car transition. Also, five domestic finished car makers (Hyundai Motor, Kia Motors, GM Korea, Renault Korea, KG Mobility) made a joint declaration to strengthen win-win partnerships with parts makers.