SuhRyung Machinery, a Leading Manufacturer of Hydraulic Jacks in South Korea, to Launch Brand in ASEAN Market
SuhRyung Machinery Co., Ltd. announced it will launch its brand in the emerging ASEAN automotive market this time, now that it brought its products to BRICS successfully. SuhRyung Machinery specializes in hydraulic jacks through its Up & Up division, recycles automobiles through its Auto-R business division and exports used cars.
The ASEAN Automotive Outlook 2019 from Frost & Sullivan shows Indonesia ranked the largest market for new model launches among big three ASEAN markets (Indonesia, Thailand, and Malaysia). An estimated number of 634,378 new vehicles were sold in 2018. Toyota, Daihatsu, and Honda took the lion's share of the Indonesian automotive market. Toyota sold 352,161 vehicles in the country in 2018.
"In step with these market conditions, we decided to launch brand for our hydraulic jacks in the ASEAN market including Indonesia in 2020 in a bid to double down on marketing to car makers with potential demand for hydraulic jacks," an official of SuhRyung Machinery said.
Established in 1989, SuhRyung Machinery has supplied hydraulic jacks to Hyundai Motor since 1977. It obtained the KS (Korea Standard) certification in 1981. It is a first-tier direct supplier to Kia Motors, Tata Daewoo Commercial Vehicle, Zyle Daewoo Commercial Vehicle, and Mitsubishi Fuso Truck and Bus Corporation. SuhRyung Machinery is specialized in manufacturing automotive hydraulic jacks for more than 40 years.
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