Being the 5th largest manufacturer of cars in the world, Korea makes use of its technological developments to produce high-quality vehicles both for export and personal use. While North Korea is more involved with their military forces, South Korea is competing with European and American car manufacturers for the biggest share on the auto market.
Parent Company: Unification Church
Pyeonghwa Motors (also known as “Peace Motors”) is a Korean car manufacturer founded in 1990. This Korean car brand specializes in the production of SUVs and pickup trucks. It represents a joint venture between the Ryonbong General Corp and Pyonghwa Motors in Seoul. Its production capacity is relatively low, and it is one of the smallest Korean car companies operating in the region. It has the exclusive rights to manufacture and sell cars to North Korea, but because the country’s market is small the car export represents just 300-400 cars per year. It is believed that Pyeonghwa Motors possesses a great potential for manufacture of vehicles and their further export into the foreign countries, thus being an important link in the chain of South Korean cars production.
Perhaps, the title for the best known Korean automaker brand goes to Hyundai. Its headquarters is situated in Seoul. The Hyundai Group conglomerate encompasses Hyundai Motor Group, Hyundai Department Store Group, Hyundai Heavy Industries Group and Hyundai Development Company. The company’s main principle resides in a constant process of progress and introduction of innovations. The Korean car company specializes in the production of a large variety of vehicles, going from SUVs to sports cars and electric vehicles. Hyundai is one of the leading car manufacturers in the world, with a production output of an estimated 4.7 million units in 2013. The high quality standards helped the South Korean cars becomes the 4th biggest car manufacturer.
Kia Motors is the 2nd largest Korean car manufacturer with sales exceeding 1 million units per year. It is the oldest Korean car brand that was founded in 1944. Being very popular around the world and having a big number of distributors in 172 countries its total annual revenue consists of more than $17 billion. Accessibility and high quality standards represent the company’s main interests. A large selection of cars that completely satisfy the needs of their clients is what put this Korean car company on the map. The company has multiple headquarters to facilitate its activity in European countries as well as in The US. The most popular Kia car models include Sorento SUV, Rio 4-door, Rio 5-door, Cerato KOUP, and cee’d.
Parent Company: Hyundai Motor Group
Daewoo Motors was a Korean automaker that had quite a big amount of success on the international market. It was founded in 1982 as a part of Daewoo Group conglomerate. The Korean car company specialized in affordable cars, with Daewoo Matiz being the bestselling model in its modern history. The five-door hatchback, designed by the Italian car designer Giorgetto Giugiaro, was a compact option of a city vehicle with an economic four-cylinder engine. The Korean car brand met with financial difficulties in the late 90’s which led to its assets being sold to GM in 2001.
Parent Company: Mahindra & Mahindra Limited
SsangYong Motor is the 4th largest Korean car manufacturer. The company is renowned for producing luxury cars, as well as, a number of SUVs. The collaboration between SsangYong and Mercedes-Benz had spawned the Musso SUV which was first sold by Mercedes and later by SsangYong. The Korean automaker’s main factory resides in South Korea with another two factories being situated in Russia (Vladivostok) and Ukraine (Kremenchuk). The Korean car brand has gone through a number of financial difficulties leading to its acquisition by Mahindra & Mahindra Limited in February 2011.
Renault Samsung Motors
Parent Company: Renault
Renault Samsung Motors is a Korean car manufacturer founded in 1994 and started selling cars in 1998. After the financial crisis has hit the Asian market, the company had to restructure, thus becoming a subsidiary of Renault in September 2002. The changes were for the best, as the Korean automaker began to gain both popularity and trust among potential clients. The SM5 model proved to be a success and the company began to introduce a new range of vehicles. The Korean car brand has launched the compact sedan SM3 in 2002, the luxury sedan SM7 in 2004, and the crossover QM5 in 2007. In 2015, outside of South Korea, all the cars are branded as Renault.
CT&T United is a Korean car brand that represents the world largest manufacturer of electric battery vehicles. The company was founded in 2002, having produced eZone Medium Speed Vehicle and cZone Low Speed Vehicle. The plans of an extended collaboration with US include assemble of vehicles in smaller factories. The South Korean cars are being largely exported to Japan where they fall in the classification of Key cars. The eZone produced by CT&T United is the only vehicle that has successfully passed the international crash test for passenger vehicles. The plans for future development include the construction of a plant on the Oahu Island to ensure a production rate of 10.000 units per year.
Proto Motors is the South Korean automaker specialized in the production of sports cars and electric vehicles. The company was founded in 1997, and since has built strong partnership with such Korean car companies as: Kia Motors, Hyundai Motor Company, and GM Daewoo. In 2001, the company has launched a convertible limousine exclusively for the presidential residence, Cheongwadae, South Korea. Presently, the Korean car manufacturer is engaged into taking preexisting models and redesigning them into convertibles or electric cars.
Zyle Daewoo Bus Corporation
Parent Company: Young-An Hat Company
Zyle Daewoo Bus Corporation is a Korean car company specialized in the production of buses for public transportation. The company was established in 2002, after it merged with Daewoo Motor Company. It is the biggest bus producer company that’s been partners with GM Daewoo since 2006. The Korean automaker has successfully introduced on the market such models as Daewoo FX212 Super Cruiser in 2007, and FX120 Cruising Star among the luxurious big transportation buses. The company went through a number of iterations, first being founded as Shinjin Motor in 1955, then being known as GM Korea Motor Company in 1972, and finally becoming Daewoo bus in 2002.