South Koreans worry about China imported tires

2017-02-07 06:57:48 Global Excel Tyres Co.,ltd Read

Recently, the South Korean authorities released a set of data, touched the Korean sensitive heart.

According to the latest news released by the Korea Trade Association and the Korea Automobile Manufacturers Association, 20.6 percent of China's imports of tires accounted for 29.6 percent of the imports, reaching US $ 175.26 million. The import of tires to commercial vehicle-based, which accounts for about 80% of China's total tire imports.

In 2015, South Korea imported a total of 5.11 billion US dollars of tires. According to the Korean Tire Manufacturers Association (KTMA) statistics, China tires accounted for the largest proportion of South Korean imports of tires. Previously, the local passenger car tires, only China's total imports of about 15% of tires. China-South Korea FTA since December 20, 2015 since the implementation of China's tire exports to South Korea played a catalytic role. The data show that in 2016, South Korea imported the number of Chinese-made vehicles over the previous year's 890 increased 17.8% to 1048, the annual import volume for the first time exceeded 1,000 mark. According to analysis, after the Chinese-made cars and tires are not optimistic about the Korean market. The reason for its substantial growth in sales, mainly the increasing price competitiveness and higher quality. Contrary to increasing imports, production and sales of Korean tires are declining. Data show that in 2015, South Korea tire production fell 2.5%, sales fell 2.9%; 2016 the first 5 months, down 3% year on year. In accordance with the provisions of China-ROK FTA, China and South Korea will cancel the tire tariffs within 15 years. This has prompted some South Koreans to worry about the future of the country's tire market. Korean heart imbalance is, and "Made in China" in the Korean Zouqiao the contrary, the past two years, South Korea's automotive products in China suffered a "cold."

Such as the once glorious Kumho Tire, due to "back to the door," leaving the market acceptance greatly reduced; Hyundai Kia Motors once in the Chinese market share of up to 10% in 2016 but fell to 7.4%.