Detroit: The Korea Trade-Investment Promotion Agency (KOTRA) said Wednesday it has hosted a future mobility partnership event in the United States to help South Korean and U.S. companies boost cooperation in the automotive sector.

According to Yonhap News Agency, the event was held in Detroit, the automotive capital of the U.S., bringing together 40 automobile companies based in the U.S., including General Motors Co., and 45 Korean auto parts manufacturers. The Korean trade agency said the event aims to help American and Korean automotive firms explore cooperation opportunities amid recent shifts in global auto parts supply chains, driven by trade uncertainties and the rise of the future mobility sector.

Many American companies view Korean firms as promising partners, given their competitiveness in car manufacturing and ICT technologies, KOTRA said. "External uncertainties have been increasing due to war and the rise of trade protectionism, but such significant changes can serve as an opportunity for Korean companies to enter new supply chains," KOTRA President Kang Kyung-sung said in a press release.