Asia Bizz: South Korea has become a huge market for imported vehicles, and there is consistent rise in this very market every year. This year the Korean market saw a significant 50% increase in the imported car market, for most of the vehicles prices have plunged and economy of the country boosted as which the sales of imported vehicles too went up.
Next year, i.e 2011, the rise in imported vehicles will still be going up, but not as much as this year, but by a projected 10%. Many car companies from around the world are looking forward to enter into Korean market, the existing companies will be coming up with regular upgrades and new trim levels.
South Korea has joined the emerging markets like China and India in Asia, and the country is showing that it has potential to have strong car sales. South Korea itself manufactures vehicles but not on a large scale, the local companies do not have technological and quality superiority as the foreign car makers.