Demand for autos grew rapidly after reforms were implemented after 1979, and the government's auto factories began to be reorganized as companies. In 1994, the government announced its "Industrial Policy for the Automotive Sector," which was aimed at spurring competition and resulted in the creation...
Demand for autos grew rapidly after reforms were implemented after 1979, and the government's auto factories began to be reorganized as companies. In 1994, the government announced its "Industrial Policy for the Automotive Sector," which was aimed at spurring competition and resulted in the creation of joint ventures. After China joined the WTO in 2001, foreign investment in China's auto sector grew rapidly. Although the Chinese auto market is already among the world's largest, it still has ample potential for further growth and it is only a matter of time before it becomes the world's largest auto market. Hyundai mobis Group entered the Chinese market in 2002, later than its competitors, and has growth quickly. In this case study, I investigated success factors of Beijing Hyundai mobis Co.. Beijing Hyundai mobis's success factors are as follows. First of all, Organizational Characteristics of Hyundai mobis Co. in other words Hyundai mobis Speed is one of success factors. "Hyundai speed" referring to the rapid growth of Beijing Hyundai mobis Co. over the past four years. As a latecomer, Beijing Hyundai mobis Co. had to speed up their management procedures, from decision-marking on model selection and factory location to setting up sales and distribution networks. Second, Following Hyundai mobis ,s lead, a stream of Korean suppliers invested in Chinese manufacturing operations transferring know-how to local partners and upgrading the quality and technological level of the Chinese automotive industry. While Hyundai mobis Co. is rising its power of brand and through it's globalization strategies, and it not only accounted for a large market share of the Chinese automobile market but also achieved the goal which is to expand the worldwide market share. Although, Hyundai mobis Co. landed in China Lately and successfully, for continuously growth it still needs to face lots of challenges. In this article, it will seeks ways to solve three issues, the first is how to guarantee the profit which is made by Hyundai mobis proprietary technology, and the second is how to closer the economic cooperation between Korea and China, the third is how to strengthen the cooperation between the two countries on the automobile industry area.
Demand for autos grew rapidly after reforms were implemented after 1979, and the government's auto factories began to be reorganized as companies. In 1994, the government announced its "Industrial Policy for the Automotive Sector," which was aimed at spurring competition and resulted in the creation of joint ventures. After China joined the WTO in 2001, foreign investment in China's auto sector grew rapidly. Although the Chinese auto market is already among the world's largest, it still has ample potential for further growth and it is only a matter of time before it becomes the world's largest auto market. Hyundai mobis Group entered the Chinese market in 2002, later than its competitors, and has growth quickly. In this case study, I investigated success factors of Beijing Hyundai mobis Co.. Beijing Hyundai mobis's success factors are as follows. First of all, Organizational Characteristics of Hyundai mobis Co. in other words Hyundai mobis Speed is one of success factors. "Hyundai speed" referring to the rapid growth of Beijing Hyundai mobis Co. over the past four years. As a latecomer, Beijing Hyundai mobis Co. had to speed up their management procedures, from decision-marking on model selection and factory location to setting up sales and distribution networks. Second, Following Hyundai mobis ,s lead, a stream of Korean suppliers invested in Chinese manufacturing operations transferring know-how to local partners and upgrading the quality and technological level of the Chinese automotive industry. While Hyundai mobis Co. is rising its power of brand and through it's globalization strategies, and it not only accounted for a large market share of the Chinese automobile market but also achieved the goal which is to expand the worldwide market share. Although, Hyundai mobis Co. landed in China Lately and successfully, for continuously growth it still needs to face lots of challenges. In this article, it will seeks ways to solve three issues, the first is how to guarantee the profit which is made by Hyundai mobis proprietary technology, and the second is how to closer the economic cooperation between Korea and China, the third is how to strengthen the cooperation between the two countries on the automobile industry area.
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#Hyundai mobis China auto market Technical support Economiccooperation Global competition
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