Hyundai Motor, Kia, 1st Small and Medium-sized Parts Partner Sales surpass KRW 90 trillion

Sales of small and medium-sized companies that directly provide parts to Hyundai Motor and Kia exceeded 90 trillion won for the first time in 2023.

Hyundai Motor Group said sales of 237 primary partners, which are small and medium-sized companies, reached 90.297 trillion won in 2023.

This is an increase of 326% from 21.1837 trillion won in 2001, which is larger than Hyundai Motor's sales of 78.338 trillion won in the same year.The sales volume is estimated to exceed KRW 100 trillion if the second and third partnership of

5,000 is added.

In this analysis, sales dependence on Hyundai Motor Group affiliates and Hyundai Motor and Kia is less than 10% or parts non-specialized companies are excluded.

Hyundai Motor Group analyzed that the quantitative and qualitative growth of individual partners is also clear.

Average sales of companies increased from 73.3 billion won in 2001 to 381 billion won in 2023, and the proportion of suppliers with sales of more than 100 billion won increased from 62 to 160 during the same period.

The number of suppliers listed on the stock market (KOSPI) and KOSDAQ markets also increased from 46 in 2001 to 70 at the end of 2023, and the market capitalization also increased from 1.5 trillion won to 17.4 trillion won.

An official from Hyundai Motor Group explained, "The growth of Hyundai Motor and Kia partners seems to be the result of creating a variety of sales sources, such as increasing supply to other overseas automakers by utilizing the reliability of Hyundai Motor and Kia partners along with expanding the volume due to the increase in global sales of Hyundai Motor and Kia."