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back to index backASIAtalk December,  2005

GM Is Said To Create Korean Parts Unit With Intent To Triple Purchases Within Three Years

General Motors has set up a Korean parts task force and is making plans to triple its purchases of Korean-made parts over the next three years, the Joongang Ilbo reported last week.

The paper said the Detroit office of the government's Korea Trade & Investment Promotion Agency, or Kotra, quoted GM global purchasing vice president Bo Anderson as having told a recent trade meeting that we... are very much interested in Korean auto parts.” Anderson indicated he expects GM's purchases of Korean parts to rise from $600 million to $2 billion a year, according to the Kotra report.

Overall U.S. purchases of Korean made parts are up 79% so far this year, to $1.7 billion, the paper noted.

To handle the increase, the company recently created a supply footprint organization led by an executive named John Saldahna. He will visit Korea next month to see what companies like Hyundai Mobis, Mando and Kwangjin Machine, all of which were at the trade meeting, actually have to offer, Joongang Ilbo said.

GM's interest has undoubtedly been stimulated both by the Delphi bankruptcy, which threatens to disrupt the GM supply chain, and by the experience of GM Daewoo, the thriving subsidiary the company created in 2002 from pieces of the bankrupt Daewoo empire.

Source: Japan Automotive Digest - GAI

For more information on the Japan Automotive Digest, click here.

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