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Gangwon Province and Wonju City Participate in Ho Chi Minh Exhibition… Promoting Diversification of Export Markets
Gangwon Province is embarking on pioneering new markets in the auto parts sector in response to US tariff imposition and declining exports to the North American market.
The province announced on the 20th that it is promoting the diversification of export markets, focusing on Southeast Asian markets such as Vietnam and China, to counter the decrease in auto parts exports.
Auto parts are one of the province's key export items, but they are currently facing difficulties due to declining exports to the North American market, including the US and Mexico, and the impact of global supply chain reorganization.
In fact, as of April this year, auto parts exports decreased by 19.1% compared to the same period last year.
On the other hand, in some emerging markets such as Vietnam and India, the trend of increasing exports continues, raising the possibility of alternative markets.
Accordingly, Gangwon Province and Wonju City will dispatch 12 auto parts and future mobility companies from the province to the '2026 Vietnam International Auto Parts Exhibition' held in Ho Chi Minh, Vietnam, from the 21st to the 24th.
Participating companies will promote their products, conduct buyer-matching export consultations, and also establish cooperation systems with local companies, the Korean Chamber of Commerce and Industry in Vietnam (KOCHAM), and Dong Nai Industrial Complex.
The province plans to further operate a Gangwon joint pavilion at the International Mobility Industry Exhibition held at KINTEX, Ilsan, in October, and participate in the Factory Automation & Robot Exhibition in Shanghai, China, in November, to expand overseas sales channels.
Kim Man-ho, head of the provincial economic bureau, said, "In the short term, we will strengthen buyer matching, and in the mid-to-long term, we will establish a strategic cooperation system with local companies and associations to lay a stable export foundation."
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