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South Korea Could Help with Auto Parts Supply

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March 24, 2020—South Korea announced it would provide logistical and financial support to help the auto industry through the coronavirus crisis, reported The New York Times.

The government said it would speed up customs clearance, arrange freight transportation and provide liquidity support.

A drop in car exports and auto parts is inevitable because car factories and dealerships are closing, according to the report. 

Europe and the United States account for about 70 percent of Korean automakers' exports, and 54 percent of Korean parts exports.

 

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