S. Korean auto-parts suppliers aim for deals with Toyota

TOKYO, Sept. 10 (Yonhap) -- A number of officials from South Korean auto-parts
makers are visiting Japan in hopes of securing export deals with Toyota Motor
Corp., a Seoul trade agency said Thursday.
This is the first time that Toyota, the world's largest carmaker, has invited
South Korean suppliers to its headquarters, according to the Korea Trade and
Investment Promotion Agency, which helped arrange the two-day visit.
Presently, none of the Korean firms supply parts to Toyota, the agency said.
"Throughout today's efforts, we expect both nations to create a number of
(opportunities) for cooperation in the fields of eco-friendly cars and high-tech
safety vehicles," said Cho Hwan-eik, head of the agency, in a statement.
Among the 39 South Korean firms that participated into the negotiations were LG
Innotek Co., an affiliate of LG Electronics Inc., and Hyundai Hysco Co., a maker
of cold-rolled steel sheets.
Exports of South Korean auto parts stood at US$14 billion last year, accounting
for 4.3 percent of the global auto-parts market, according to the agency.
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