Automotive Industry Forum… 53 target surveys
72% “supply and demand will continue until the end of this year”
Intensifying financial crisis… Need for special financial measures
It was diagnosed that the operating funds of parts makers were drying up as automakers were disrupting production due to the supply and demand of semiconductors for vehicles. The so-called’pork vein hardening’ has begun due to the shortage of semiconductor supply.
At the Automobile Industry Development Forum held at the Automobile Center on the 6th, Chung Man-ki, chairman of the Automobile Industry Association, said, “As a result of a survey of 53 auto parts companies, 48.1% of responding companies are reducing production due to disruption in supply and demand for automobile semiconductors, and 72% of them are suffering from supply and demand disruptions this year It is expected that it will continue until the end,” he said. According to the survey, 64.0% of companies cut production to less than 20% and 36.0% of companies cut production to less than 50% due to a disruption in the supply and demand of automotive semiconductors. In addition, 49.1% of respondents complained that the production disruption of automakers is aggravating the problem of operating funds for parts makers. Chairman Chung stressed that “the government and the financial sector need to take preemptive and special financial measures.”
It was also found that the Korean automobile industry is also showing weaknesses in procuring electronic parts for future vehicles. It is expected that the proportion of future cars’ electric component parts will increase to 70%, more than twice that of existing internal combustion engines, but our dependence on overseas is too high. Lee Hang-gu, a research fellow at the Automobile Research Institute, said, “The shortage of human resources for software research, which is the core of future cars, is also serious.”
At the forum that day, experts said that confrontational labor-management relations are slowing the development of the industry, and ordered the government for detailed policy support. Professor Lee Jung of Hankuk University of Foreign Studies said, “It is necessary to supplement productivity to the level of advanced countries such as Japan and Germany, expand the flexible work system or the selective work system, introduce the discretionary work system for planning work, and expand the target of special overtime work.”
/ Reporter Han Dong-hee [email protected]
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