Automotive Industry in Korea

Korea has quite a number of vehicle manufacturers including Hyundai, Kia, Samsung, Daewoo & others to name a few. The automotive industry in Korea is becoming a highly profitable business and becoming as one of the country’s major export. The promotion for Hyundai Sonata in United States in a few years back was very intense and very promising. It’s the advertisements and promotions that boost up the sales because they manage to come out with a very good package for the after sales service. Hyundai provided free service for 2 years which wiped out the closest competitor. This was the major factor which boosts up the sales and brought the brand as one of the top car manufacturer in the world.

The other player in Korea includes the Kia which is also becoming one of the top sales in Korea and several other countries. Kia came up second place after Hyundai as the top brand of automobile. Now Hyundai and Kia has teamed up and merged to become one big company and dominates Korean market. This strategy has been a greatest decision made by the stakeholders as it creates a very huge company with huge capital income.

The other player is Samsung which is a very well known brand in the electronic industries. This is an interesting and surprising fact as other countries might have not heard about it before. The trend these days in Korea is that once a manufacturer is making a good progress and becoming a well known company, they tend to venture into other areas which they believe is highly profitable.