Increased by More Than 25% Compared to One Year Ago
German premium automaker BMW Group announced on the 15th that the parts purchased from Korean suppliers last year amounted to 4.5 billion euros (approximately 6.535 trillion KRW). This is more than a 25% increase compared to one year ago.
According to the company, BMW Group Korea's total sales last year were 6.1066 trillion KRW. This means that the amount spent on Korean-made parts exceeded the revenue earned from selling finished vehicles and other products in Korea.
The amount BMW Group has spent on parts from Korean suppliers has steadily increased over time. In 2010, the purchase amount was around 711.9 billion KRW. It first exceeded 1 trillion KRW in 2014 and surpassed 4 trillion KRW in 2022.
From 2010 to 2023, the cumulative amount of parts purchased by BMW Group from domestic suppliers reached approximately 30.78 trillion KRW. BMW Group procures advanced parts such as batteries and displays from about 30 Korean partners including Samsung SDI, Samsung Display, LG Group, Hankook Tire, and Sebang Battery. The company stated, "We are steadily maintaining a virtuous cycle structure that leads from finished vehicle sales to investment."
Hansang Yoon, CEO of BMW Group Korea, said, "We are pleased and proud to equip BMW models with parts containing advanced technology from Korean companies and showcase them to the global market. We will continue to contribute to serving as a bridge for Korean companies to expand in the global market."
As an unusual move for an imported car company, BMW Group is actively expanding its electric vehicle charging infrastructure. Currently, more than 1,000 charging stations have been established, and the company has announced plans to nearly double that number to 2,100 by the end of this year.
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