ABSTRACT
Four Korean automobile companies together produced 1,728,000 automobiles in 1992, making South Korea the sixth largest producer of automobiles in the world in that year. This is remarkable because Korea’s first own passenger car model was produced as late as 1975. It is all the more remarkable that, good or bad, all four Korean automotive companies are under the managerial control of Korean (versus multinational) companies. Korea was expected to be the fifth largest producer of automobiles in the world in 1993 based on a strong domestic demand as well as export increases amid the worldwide recession of the industry. Table 10.1 shows the trend of motor vehicle production and exports of Korea during 1975 to 1992.
