Seoul sells foreign cars to style hungry locals

Calcutta News.Net
Friday 20th July, 2007 (BigNewsNetwork.com)

After many years preference for the local product, foreign-made cars are now being seen regularly on the streets of Seoul.

South Korea’s own auto industry had been built up to challenge neighbouring Japan, and it was protected by high tariff levels on imported cars.

Foreign car sales are still relatively modest but are eating into the markets of Hyundai Motors and its affiliate Kia Motors.

Sales of imported passenger cars grew 26.3 per cent in January-June, at more than double the rate of domestic manufacturers' sales, boosted by aggressive promotions, lower prices, a stronger won and a free trade deal with the U.S to cut car taxes.

Koreans are also warming to the wide range of Japanese car models.

Until recently, Japanese car dealers had to close their showrooms on holidays such as Independence Day as angry South Koreans demonstrated against Japan.

But, memories are fading since South Korea was colonised by Japan between 1910 and 1945, although many remain sensitive about that occupation and Japan's past military actions in the region.

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