In a notable development, BMW Group’s expenditure on parts sourced from Korean suppliers has surged to approximately 6.53 trillion won, eclipsing its own sales figures within the country, which stood at 6.10 trillion won for the same period.
The trajectory of BMW’s procurement from Korean enterprises has exhibited a remarkable ascent in recent years, escalating from approximately 711.9 billion won in 2010 to over 1 trillion won in 2014, and surmounting the 4 trillion won mark by 2022. Notably, the procurement figures for last year alone witnessed a staggering 54% surge compared to the preceding year.
This exponential growth is attributed primarily to the burgeoning demand for electric vehicles and the integration of cutting-edge technology in automobiles, necessitating higher-value components. South Korea’s automotive industry has demonstrated enhanced competitiveness, consequently expanding the supply opportunities for luxury automotive manufacturers like BMW.
Key contributors to this robust supply chain include industry giants such as Samsung SDI, Samsung Display, LG Group, Hankook Tire, and Sebang Global Battery, furnishing essential components such as electric vehicle batteries and advanced display technologies. Han Sang-yun, CEO of BMW Group Korea, expressed pride in the integration of Korean companies’ advanced technological components into BMW’s flagship products, underlining BMW Korea’s steadfast commitment to facilitating the global market expansion of Korean enterprises.
In a bid to further fortify the country’s electric mobility infrastructure, BMW has unveiled plans for the Charging NEXT project, aimed at doubling the number of electric vehicle chargers from approximately 1,000 to 2,100 by the end of the year. This initiative underscores BMW’s proactive engagement in fostering sustainable mobility solutions and reinforcing its strategic partnership with Korean suppliers.
