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Korean auto parts makers to launch online purchase

SEOUL, Feb 28 (Asia Pulse) - Domestic Korean automakers are starting to follow the world trend of utilizing e-commerce to purchase parts following a recent announcement made by General Motors, Ford and DaimlerChrysler to do the same.

SEOUL, Feb 28 (Asia Pulse) - Domestic Korean automakers are starting to follow the world trend of utilizing e-commerce to purchase parts following a recent announcement made by General Motors, Ford and DaimlerChrysler to do the same.

"By the end of this year, Hyundai, Kia and Daewoo will integrate their buying systems and build an online network to shop for parts through the Web from ten to 50 local manufacturers," Kia CEO Kim Soo-jung said Monday at a press conference at the Korea Life Insurance Building in Yoido.

"Participating auto parts manufacturers in e-commerce take 40 percent of total local transactions, and it will be the best way to standardize," he added.

Kia has no immediate plans to launch retail sales of cars online, Kim said, noting that job security is as important as earning profits.

Meanwhile, the Korea Automobile Manufacturers Association (KAMA) will launch e-commerce in few months to help standardize auto parts.

KAMA said Korean automakers can soon buy from abroad via the Internet.