Authenticated replacement auto parts shows same quality and cheaper price than OEM parts

- Need to improve consumer awareness and expand authenticated replacement parts -

The rise in the number of cars owned and the frequency of traffic accidents are leading to constant rise* in demands for auto parts for repair. At the current time, repair parts are distributed as OEM parts** (or original parts) and authenticated replacement parts (hereinafter replacement parts) which the government-certified institution validated their performance/quality. Still, more efforts are required for a more variety of auto parts, as consumers have less information and low recognition on replacement parts.

* Domestic sales of replacement auto parts grew by 8.4% year on year to KRW 3 trillion 544.2 billion in 2019 (Korea Auto Industries Cop. Association)

** OEM (Original Equipment Manufacturing) parts: Parts produced upon orders from auto manufacturers