South Korea Country Report 2012

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Discovery Reports

Korea Wheel on track as leading wheel maker

Discovery Reports

PUBLISHED : Tuesday, 16 October, 2012, 3:49pm
UPDATED : Thursday, 23 May, 2013, 5:51pm

Backed by a 45-year tradition of creativity, innovation and excellence, Korea Wheel is on track to become one of the world's leading manufacturers of steel and alloy wheels. The company produces all of Kia's steel wheels and has a market share in South Korea of almost

50 per cent. Its reputation for prioritising product quality and client satisfaction has led to high demand in Japan, the United States, Russia, Slovakia and on the mainland.

Korea Wheel was the first steel wheel manufacturer from South Korea to enter Japan, where it has had a technical joint venture with a Japanese company for 15 years. Its efficient complete system combined with an experienced team of reputable professionals has earned the company a high level of trust within the industry.

Leading Japanese and European vehicle makers are among Korea Wheel's high-profile customers. As the company evolves and responds to opportunities in the market, Korea Wheel is also pursuing an opportunity to manufacture tractor wheels in Thailand.

In order to support the regional expansion of Kia and Hyundai, two of its most valuable clients, Korea Wheel established two plants on the mainland in Tianjin and Shandong. Korea Wheel is also actively looking for investors and partners to grow further and bring it closer to an initial public offering on the mainland.

Korea Wheel produces 10 million wheels annually, 5.5 million from its South Korea plant and the other half from its mainland plants. Even with such an enormous demand, the aluminium and steel wheel maker prides itself in never once cutting its production line.

"Korea Wheel has been in the market for a long time and we aim to be a leader in the wheel industry," chairman Choe Hun says. "We will concentrate on our speciality. With our knowledge and background, we can grow faster than our competitors."

Korea Wheel