About Auto Components sector in South Korea
The Auto Components sector in South Korea comprises 457 companies, including 98 funded companies having collectively raised $2.52B in venture capital money and private equity. Out of these, 126 are Series A+ funded.
Auto Components sector in South Korea has seen 8 acquisitions and 112 IPOs. This represents almost 26.3% of all such companies - which is higher than the 4.5% exit rate of tech companies in general.
This sector includes companies designing and manufacturing automotive components for the OEMs and the aftermarket across categories including body & frame, interiors, electrical & electronic system, powertrain system, and others.
Auto Components sector is also known as Auto Parts or Automotive Components.
Companies that manufacture & supply automotive components (Tier1, Tier 2, Tier 3) directly to the OEMs as well as to other component manufacturers to be used as sub-assemblies. Companies manufacturing aftermarket accessories such as seat covers, lighting systems, floor mats would also be included. Companies manufacturing components for aircraft, industrial vehicles, military vehicles, auto care and detailing product manufacturers, auto manufacturers, part retailers, auto service providers, and companies providing automotive software are excluded.
Top Auto Components Companies in South Korea
There are 457 Auto Components startups in South Korea which include Lgchem, Hanon Systems, Hankook Tire, LG Innotek, Hyundai Wia. Out of these, 98 startups are funded, with 126 having secured Series A+ funding.
Over the past 10 years, an average of 2 new companies have been launched annually.
Here is the list of top Auto Components startups in South Korea
1. Lgchem
Manufacturer of petrochemicals, advanced materials, and innovative life science solutions. The company focuses on productivity and cost competitiveness in the petrochemical sector. It enhances business competitiveness in specialty materials through a market-oriented approach. The company aims to develop innovative new drugs as a future growth engine.
Key facts about Lgchem
- Founded Year: 1947
- Location: South Korea
- Stage: Public
- Investors: Gates and European Investment Bank
- Latest Funding Round: Conventional Debt, Apr 09, 2019, $*****
- Tracxn Score: 62/100 What is this?
- Competitors Rank: 8 of 2,465 Competitors
Hanon Systems (fka Halla Visteon Climate Control Corporation) manufactures climate control systems for automobile applications. Their thermal management solutions include heating ventilation and air conditioning; compressors; powertrain cooling; fluid transport; and electric, hybrid and fuel cell vehicle thermal systems. It has 40 manufacturing sites supported by four global technical centers in 19 countries.
Key facts about Hanon Systems
- Founded Year: 1986
- Location: Daejeon (South Korea)
- Stage: Acquired
- Investors: FedDev Ontario, Hahn & Company and 4 Others
- Latest Funding Round: Grant (prize money), Feb 19, 2024, $*****
- Tracxn Score: 61/100 What is this?
- Competitors Rank: 1 of 353 Competitors
3. Hankook Tire
Manufacturer of tires for passenger vehicles, motorsport, and commercial use. The company provides tires for electric vehicles, SUVs, and vans, as well as all-weather and winter tires. It supports motorsports competitions and teams, researching and testing tire performance. The company also focuses on sustainability and responsible engagement.
Key facts about Hankook Tire
- Founded Year: 1941
- Location: South Korea
- Stage: Public
- Latest Funding Round: Post IPO, Aug 11, 2011, $*****
- Tracxn Score: 56/100 What is this?
- Competitors Rank: 8 of 940 Competitors
4. LG Innotek
In 2022, the company recorded annual revenues of $15.16B and a net profit of $0.76B
Key facts about LG Innotek
- Founded Year: 2000
- Location: Seoul (South Korea)
- Stage: Public
- Tracxn Score: 53/100 What is this?
- Competitors Rank: 209 of 26,120 Competitors
5. Hyundai Wia
Hyundai Wia is a manufacturer and supplier of major auto components. Manufactures automobile engine, chassis module, axle module, tire module, hydraulic actuator, motor, inverter, turbocharger, constant velocity joint, high precision machine tools and FA line for automotives. Also serve other industries such as defense, machine, and industrial.
Key facts about Hyundai Wia
- Founded Year: 1976
- Location: Changwon (South Korea)
- Stage: Public
- Tracxn Score: 52/100 What is this?
- Competitors Rank: 60 of 7,037 Competitors
Companies founded year-on-year in the Auto Components sector in South Korea
6 Auto Components startups in South Korea were founded in 2018 - this is the most number of startups founded in any year in the last 10 years.
- Total Number of Companies
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | - |
2023 | 1 |
2022 | 2 |
2021 | 2 |
2020 | 3 |
2019 | 5 |
2018 | 6 |
2017 | 3 |
Stage-wise distribution of Auto Components sector companies in South Korea
Out of the total 457 Auto Components companies in South Korea, 98 have secured funding. Among them, 126 have reached Series A or higher, and 124 to Series B or beyond.
Founded - 457
Funded - 98
Series A+ - 126
Series B+ - 124
Series C+ - 124
Company Stage | No. of companies |
|---|---|
Founded | 457 |
Funded | 98 |
Series A+ | 126 |
Series B+ | 124 |
Series C+ | 124 |
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Funding Trends in the Auto Components sector in South Korea
Total funding year-on-year in the Auto Components sector in South Korea
The Auto Components sector in South Korea saw a total funding of more than $1.83B in the last 10 years. The most amount of funding was in 2019 at more than $1.59B. There has been a total funding of $60.2M in 2026 till date.
- Total Funding
Year | Total Funding |
|---|---|
2026 | $60.2M |
2025 | - |
2024 | $5.29M |
2023 | $2.55M |
2022 | $2.11M |
2021 | $946K |
2020 | $1.27M |
2019 | $1.59B |
2018 | $148M |
2017 | $13.4M |
Recent Funding Rounds in Auto Components in South Korea
In the year 2026, till March 2026, Auto Components companies in South Korea have raised $60.2M in equity funding across 2 rounds.
Here are some recent, important funding rounds in Auto Components companies in South Korea:
Company | Round Raised | Amount Raised | Funding Date | Investors |
|---|---|---|---|---|
Seed | 1452 | Mar 11, 2026 | ||
Series A | 6220 | Feb 23, 2026 | ||
Seed | 1810 | Oct 01, 2025 | ||
Seed | 3935 | Nov 15, 2024 | ||
Series A | 1812 | Jul 16, 2024 |
Top Investors in Auto Components in South Korea
The Carlyle Group is the top investor in Auto Components companies in South Korea based on number of companies invested.
Here are some top investors in Auto Components companies in South Korea:
Investor | Location | Top Portfolio Companies |
|---|---|---|
Washington, DC (United States) | - | |
Seoul (South Korea) | ||
Paris (France) | - | |
Seoul (South Korea) | ||
London (United Kingdom) | - |
M&A activity in Auto Components sector in South Korea
In the year 2024, till October 2024, 4 acquisitions happened in Auto Components sector in South Korea. Last year, in 2023, a total of 1 acquisition happened in Auto Components sector in South Korea.
Here are some recent, important acquisitions in Auto Components sector in South Korea:
Company | Acquisition Type | Acquisition Date | Acquirers |
|---|---|---|---|
Business Acquisition | Oct 31, 2024 | ||
Business Acquisition | Apr 19, 2024 | ||
Business Acquisition | Apr 11, 2024 | ||
Business Acquisition | Apr 04, 2024 | ||
Business Acquisition | Apr 03, 2023 |
Acquisition trends in Auto Components sector in South Korea
Here are the acquisition trends in Auto Components sector in South Korea:
- Total Number of Acquisitions
Year | No. of companies |
|---|---|
2026 | - |
2025 | - |
2024 | 4 |
2023 | 1 |
2022 | - |
2021 | 1 |
2020 | - |
2019 | - |
2018 | - |
2017 | - |
IPOs in Auto Components in South Korea
In the year 2026, till May 2026, 1 IPO happened in Auto Components sector in South Korea.
Here are some recent, important IPOs in Auto Components sector in South Korea:
Company | IPO Date | Exchange Symbol |
|---|---|---|
May 14, 2026 | Korea Exchange (KRX) | |
Aug 20, 2025 | Korea Exchange (KRX) | |
Jun 24, 2024 | Korea Exchange (KRX) | |
Jun 30, 2023 | Korea Exchange (KRX) | |
Sep 10, 2021 | Korea Exchange (KRX) |
Top News in Auto Components in South Korea
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Hanon Systems Publishes White Paper on Next-Generation PFAS-Free Natural Refrigerant TechnologiesMiningstockeducation•Jul 06, 2026•Hanon Systems
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Nexen Develops Running Shoes with Le Coq Sportif, Applying Tire Tread TechnologyBusinesskorea•Feb 11, 2026•Le Coq Sportif, Nexen Tire
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Depth Sensing Market to Reach $20.33B by 2032, Driven by 3D Imaging DemandGlobeNewswire•Oct 20, 2025•Becom-Group, ams OSRAM, Hitachi High-Tech Corporation, Ouster and 16 others
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Hanon Systems' Eco-Friendly R744 Electric Compressor Production Exceeds 1 Million UnitsPR Newswire•Sep 16, 2025•Hanon Systems
