17.8.11

Korean Cars



 

 
South Korean cars by Hyundai Motor Company and Kia Motors Corporation have gained in popularity with U.S. consumers over the last decade.  The Korean auto industry is one of the largest in the world. For the development of the Korean automobile industry, the government of Korea declared the "Automobile Industry Promotion Policy". Later on Kyeongseong Precision Industry was changed to "Kia Industry", whereas Ha Dong-hwan Automobile Industry Co. became SsangYong Motor Company. In 1965 Asia Motors Company was set up and Hyundai Motor Company was formed in 1968 in technical cooperation of Ford Motor Company. In 1975 Hyundai Pony, the first automobile developed in Korea was made. Energy crisis in 1979 brought about a bad patch for the Korean car industry. The Korean government tried to address this situation, with is "Automobile Industry Rationalization Policy." The Korean automobile industry is thriving consistently and it supplies automobiles and auto parts to almost all well known countries around the world.
The 60s also saw the establishment of the Asia Motors Company and the Hyundai Motor Company. Ever since Korea started developing its own cars, many new companies have ventured in the business of supplying exclusive Korean car parts. Korean auto parts import inside the United States and other nations are soaring. Korean auto parts are imported not only for the Korean make cars, but also for vehicles made by other international companies like General Motors. From an industry which used to produce cars out of imported car parts, it has grown into an industry that develops its own cars and exports them as well. The Korean auto parts industry is thriving and has made a threshold of its own in the world automobiles.


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