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Korea automotive industry

Korea automotive industry in terms of production is ranked fifth globally, and ranked sixth in terms of exports. Starting off as assemblers of motor cars from imported components from USA and Japan in the 1950s to producing the most advanced automotive vehicles in the 21st century, Korean automobile industry has come a long way. Hyundai, Kia Motor, GM Daewoo, Renault Samsung and SsangYong are the leading automobile manufacturers of Korea.

Hyundai Motor Company Limited – Hyundai Motor Limited is a division of Hyundai Kia Automotive group. With its head quarters in Seoul, Hyundai is the largest automobile manufacturer of South Korea and world’s fifth largest in terms of total exports. Hyundai has nearly 70,000 employees and its revenue generated in 2007 was US $29.5 billion. Accent, Elantra, Dynasty, and Sonata are the leading luxury car models from the house of Hyundai Motors. Among the vans and sports utility vehicles (SUVs), Trajet, H-1, Starex, and Santa Fe are the premier models.

In addition to passenger luxury cars and SUVs, Hyundai also manufactures commercial vehicles. Hyundai RB, Hyundai Super truck, and Bison are some of the goods carriage vehicles. HM 1630, Aero, and Chorus are some of the popular commercial passenger vehicles.

Renault Samsung Motors – Established in 1994 as Samsung Motors it was bought by Renault with a stake of 70% in 2000 September. It has employee strength of more than 7000, and grossed a revenue of US $2.77 billion in 2006. The Nissan range comprising SM3, SM5, SM7, and QM5 luxury passenger car models are manufactured by Renault Samsung. Big Thumb and SV 110 trucks are also the products of this company.

SsangYong Motor Company – SsangYong Motor Company was established in 1954 by Hadonghwan Motor Company. Presently it is the fourth largest automobile manufacturer having its head quarters in Seoul. This company manufactures luxury passenger cars, light commercial vehicles, gasoline engines and diesel engines. Rexton and New Kyron are passenger car models, while Chairman is a premium luxury car model.

(c) Stanley Street Labs, 2008