Korea's Auto Industry - Today and Tomorrow - Invest Korea

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Labor costs. The wage level of the auto parts industry is relatively lower than that of assembly manufacturers, but the wages of parts manufacturers belonging to large-sized business or foreign-invested manufacturers are on a very similar level to those of auto manufacturers. However, the small & medium-sized manufacturers still offer relatively low wages. The wages of Korean auto parts manufacturers are determined by seniority or job description, rather than labor’s skill or performance commonly adopted by advanced countries. The table below describes the wage levels in general. This data represents average labor costs. (The differences may vary by manufacturer or job grade, not corresponding to the table below) Production workers Office Workers Research Workers Small/Mediumsized Company Large-sized Company (in US$, as of Nov 2004 Average Starting Salary 13,020 21,700 17,500 Within 5 yrs 16,100 24,500 20,500 Within 10 yrs 19,170 27,400 23,500 Over 10 yrs 20,685 29,700 25,200 Starting Salary 13,020 22,800 18,000 Within 5 yrs 16,100 28,500 22,500 Within 10 yrs 19,170 34,200 27,000 Over 10 yrs 20,685 40,000~68,500 35,000 Starting Salary 19,090 22,800 18,000 Within 5 yrs 22,280 28,500 22,500 Within 10 yrs 25,450 34,200 27,000 Over 10 yrs 28,640 4,000~68,500 35,000 Source: Data from municipal government offices
Korea’s Auto Industry - Today and Tomorrow Offering Investors a Future-Oriented Optimal Investment Environment 9. The Features of Major Industrial Complexes and Detailed Infrastructures Major auto parts storage facilities in Korea Distributional features. Auto parts storage has a close relationship with the locations of the major car makers, and they appear to have been affected by the development of parts / material centers such as electrical, mechanical, electronic, plastic and steel components and products, and the domestic market and distribution networks.. Auto parts storage area Distributed in Gyeonggi Province (Southwest), South Chungcheong Province (North west), North Jeolla Province (Gunsan-Jeonju belt), South Gyeongsang Province (Mid & South), Busan, Daegu, Incheon, Gwangju and Ulsan.. Gyeonggi Province Distributed in Southwestern region including Ansan, Siheung, Whasung South Chungcheong Province Benefit of neighboring on Hyundai’s Asan and GM Daewoo’s Gunsan factories. North Jeolla Province Gunsan is located nearby GM Daewoo Factory, while Jeonju neighbors the Hyundai commercial vehicle vendors. South Gyeongsang Province Thanks to well-developed mechanical industry, GM Daewoo, Renault Samsung and Hyundai Motors’ vendors are concentrated on the region. Busan Concentrated in the industrial complex area around Yangan near the downstream of Nakdong River, and Geejang county, which connects with Ulsan, an automobile Mecca. Renault Samsung-related vendors are concentrated in the Shinho industrial complex. Daegu Mostly distributed in the Northwest in the vicinity of Sungseo industrial complex, which is accessible to Changwon and Woosan via Guma and Gyungbu Expressway. Incheon Many vendors of GM Daewoo, Kia and Hyundai are concentrated in the Incheon and Gyeonggi Province area, including Namdong and Bupyeong industrial complex. Gwangju Most of the Kia vendors are distributed in the Gwangsan-gu and Seo-gu area. Ulsan. The vendors of the nation’s largest car maker, Hyundai Motors, are concentrated mainly in Ulsan, which is strongly connected with nearby Geejang and Wiilju-gun. 34 I 35 Korea’s Auto Industry - Today and Tomorrow
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Korea's Auto Industry - Today and Tomorrow - Invest Korea

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