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British SMMT & KAMA Sign New Agreement

Auto News - Published on Fri, 13 Sep 2019

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The British and Korean automotive sectors are to benefit from closer ties as SMMT signed a Memorandum of Understanding with its Korean counterpart, the Korea Automobile Manufacturers Association. Supported by the Department for International Trade, the new commitment will help foster greater collaboration between Britain and Korea in developing connected and autonomous vehicles and low and zero emission technology. It will also help cooperation between the two sectors in terms of trade and investment, given the existing strong relationship.

Korea is one of the largest new car markets in Asia, with more than 1.5 million new cars registered last year, and a key export location for UK-made premium, luxury and sport cars, currently ranking 13th out of some 160 overseas destinations. The UK is the second largest new car market in Europe and British buyers are particularly keen on Korean marques. It is, in fact, the largest EU market for Korean car brands ahead of Germany, with more than 100,000 models registered on British roads in the first half of 2019 alone.

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Posted By : Mohan Sharma on Fri, 13 Sep 2019
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