 | |
| Company type | Subsidiary |
|---|---|
| Industry | Automotive |
| Founded | March 2000 |
| Headquarters | Gangnam District,Seoul, South Korea |
Key people | Manabu Konyama (CEO)[1] |
| Products | Automobiles |
| Parent | Toyota |
| Website | www |
Toyota Motor Korea Co., Ltd. is the South Korean subsidiary of Japan-based conglomerateToyota, which specializes in the sales and distribution of Toyota andLexus automobiles in South Korea.
Toyota's previous involvement in the South Korean auto market began in 1966, when it entered into a joint venture withShinjin Motors to produce localized versions of cars such asToyota Corona. The joint venture ended in 1972, due to Toyota's desire to enter the mainland Chinese market—thePeople's Republic of China at the time having prohibited companies operating in South Korea andTaiwan from operating in mainland China as well.[2]
After establishing a local subsidiary in March 2000, Toyota first launched the Lexus brand in 2001. Through the mid-2000s, Lexus experienced sales successes in South Korea, becoming the top-selling import make in that markets in 2005.[3] Nonetheless, Toyota Motor Korea still could not import the Toyota brand due to tariffs and South Korean policy issues. However, in order to meet the diversifying needs of users in South Korea, where the market for imported cars from Japan such asNissan,Mitsubishi, andHonda is growing rapidly, Toyota Motor Korea decided to introduce the Toyota brand in addition to Lexus, and opened each showroom on October 20, 2009.[4] As of February 2022, it has 25 sales offices, including 6 inSeoul.
There are 11 Toyota vehicles currently sold in South Korea.
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