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Korean automotive industry in transition

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  • Korean automotive industry in transition
  • Lee, Daechang
  • Kia Economic Research Institute


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Title Korean automotive industry in transition
Similar Titles
Material Type Articles
Author(English)

Lee, Daechang

Publisher

Seoul:Kia Economic Research Institute

Date 1997-07
Pages 23
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Original Format pdf
Subject Industry and Technology
Holding MIT Libraries

Abstract

Korean automotive industry drew world’s attention as it grew to be the S’h largest producing country in two decades as a later comer. Now it faces a transitory period as domestic mmket growth drops to less than 5% despite more rapidly increasing overcapacity and it has to cope with greater competition pressure in both domestic and overseas markets. Change in domestic market directs Korean manufacturers in two ways: to develop more of larger cars and various types of vehicles like RVS to meet customers’ preferences and to raise their competitiveness in price and quality to survive unprecedented power struggle among new and incumbent players. It also has to pay more heed to social voices. Energy waste, air pollution, and traffic congestion are getting more chronic in Korea. To alleviate these problems Korea imposes the heaviest taxes on automobiles and gasoline among major automobile producing countries.(The rest omitted)