Korean Companies being reduced in number in the top 100 list

The only Korean company to make it in the top 10 list was Hyundai Mobis. It was a company that made and manufactured parts of automobiles. It came in the list on the seventh rank out of 100 companies in the previous year.

The U.S. Automotive news compiled all the data and presented an analysis based on the results of the observations on the 2nd of October about the top 100 auto parts companies. It was announced by the KAMA (Korean Automobile Manufacturers Association)

In 2017, seven of the Korean companies were a part of the top 100 list of all the companies worldwide while only six of the Korean companies were included in the list compiled in this year. One company was left out of the list of top 100 companies. This was according to KAMA. It was due to the fact that two of the Korean companies had merged together and made a name like one. It was Hyundai Transys. This happened in the 1st month of this year and was the reason for the number of companies being reduced in the list. Korea being placed after China with respect to the number of companies included in the list was also a consequence of this.

China has been progressing quickly in terms of the number of auto parts companies being included in the top 100 list. In 2011 there was only one Chinese company that made it into the top 100 list of auto parts companies. The number increased to two in 2013. As it made advancements, in 2016 six of the Chinese company were advanced enough to be included in the list and last year one was added which makes it seven. As the Korean companies have reduced in number this year, they were ranked below China. It is expected of Chinese companies to be even more successful in future.