Mitsubishi Motors Co. has recently announced that the company will be launching its brand in the Korean market. The Japanese auto manufacturer plans to enter the built-up car sales business in Korea working through its sole distributor in that country, MMSK Corporation. MMSK is a Japanese/Korean joint venture recently set up by Daewoo Motor Sales Corp., Incheon, Seoul Metropolitan City, Korea; President and CEO, Lee Dong-Ho), Mitsubishi Corporation (Chiyoda-ku, Tokyo; president and CEO, Yorihiko Kojima) and Mitsubishi Corporation (Korea) Ltd. (Seoul, Metropolitan City, Korea; president and CEO, Tsutomu Awaya).
MMSK will work to grow and develop MMC’s distribution, sales and after-sales servicing businesses in Korea. Starting in October, MMSK plans to introduce the Lancer Evolution high-performance 4WD sedan, Outlander mid-size SUV, Eclipse sports coupe, Lancer sports sedan and Pajero all-round SUV models into the Korean market. MMSK aims to sell 400 units in the first year and increase volume to 3,000 units by 2010. This is a bold target but the company is sure it can achieve its goal. Korea has started to emerge as a good opportunity for auto manufacturers to expand their reach. With this new venture, Mitsubishi will be able to take its business to an emerging market and benefit from the early experience.