Daewoo Essay

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* SITEMAP | RETURN TO: Home > Our Services > Research | * MEMBER LOGIN * REGISTER ------------------------------------------------- Top of Form PRINTABLE VERSION EMAIL | | Changing competitive dynamics in the Korean passenger vehicle markets | | | Date Published: 13 May 2004 | | | | | By Steven Chon Since the financial crisis of 1998, the Korean passenger vehicle market has drastically changed, due to the bankruptcy of four Korean carmakers and entry of foreign competitors. The economic turmoil resulted in restructuring of the ownership of Kia Motors Corporation, Samsung Motors, Daewoo Motors, and Ssangyong Motors. A notable change has been the diversifying product portfolios of Korean carmakers enjoying synergies through their parent company's vehicle platforms, technological transfers, and capital investments. Foreign carmakers are enjoying a friendlier investment environment and growing acceptance of their vehicles that were once viewed as unpatriotic. Since the financial crisis, the product portfolios of Korean carmakers are diversifying with an increasing number of models being imported in the Korean market by their foreign counterparts. Hyundai Motor Company and Kia Motors Corporation both have a complete range of products in the Korean passenger vehicle market. Hyundai Motor Company has the most diversified product portfolio with their flagship models leading in the 1,000cc-1,500cc, 1501cc-2,000cc, and over 2,000cc segment through the Avante, New EF Sonata, and Grandeur XG respectively. Hyundai Motor Company has been actively face-lifting their models to spark buyer interest along with aggressive marketing campaigns with various promotions. Kia Motors Corporation has also been doing well particularly in the popular multi purpose vehicle market which accounts for 41.9 percent of passenger vehicle sales in

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