Driving Forward: Strategies for Korea-South Africa Cooperation in the Automotive Industry

Seoni Han ()
Additional contact information
Seoni Han: KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP), Postal: [30147] Building C, Sejong National Research Complex, 370, Sicheong-daero, Sejong-si, Korea, http://www.kiep.go.kr/eng/

No 24-33, World Economy Brief from Korea Institute for International Economic Policy

Abstract: This study examines strategies to enhance economic cooperation between Korea and Africa in the value chains of the automotive industry with a focus on South Africa, the most advanced economy in the sub-Saharan Africa. South Africa has the largest automobile market in Africa, and its automotive industry has become the country’s largest manufacturing sector, contributing 4.9% to GDP and 21.7% to the manufacturing output. Korea, the world’s fifth largest car producer, can strengthen ties with South Africa by supporting development of regional value chains of the automotive industry with policy advice and technical support. Cooperation can also focus on expanding Korean automobile companies’ production capacity to increase brand awareness and market share in South Africa and neighboring sub-Saharan countries, improving productivity and efficiency to boost the competitiveness of South Africa’s automotive industry, and strengthening the local production value chains in a more environmentally friendly way.

Keywords: Economic Cooperation; Automotive Industry Value Chains; South Africa; Regional Value Chains; Korea-South Africa Partnership; Automobile Market; Manufacturing Sector; Production Capacity Expansion; Brand Awareness; Environmental Sustainability (search for similar items in EconPapers)
Pages: 9 pages
Date: 2024-11-15
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:kiepwe:2024_033

Access Statistics for this paper

More papers in World Economy Brief from Korea Institute for International Economic Policy [30147] 3rd Floor Building C Sejong National Research Complex 370 Sicheong-daero Sejong-si, Korea. Contact information at EDIRC.
Bibliographic data for series maintained by Geun Hye Son ().