Honda Korea will withdraw from the Korean market at the end of this year, marking 23 years since it launched its automobile business in Korea in 2003.
At a press conference on Honda Korea's business operations held at a COEX conference room in Seoul on Tuesday, Honda Korea CEO Lee Ji-hong said, "We have reached the conclusion that we need to optimize our business areas by focusing on core domains to strengthen our mid- to long-term competitiveness." He added, "We have decided to end our automobile sales business in Korea at the end of this year."
"Even after sales end, we plan to continue providing the necessary measures so that customers can use Honda vehicles with peace of mind, including vehicle maintenance services, parts supply and support," he said. "We will sincerely respond by announcing specific details at an appropriate time so that customers do not feel anxious. We are truly grateful for the efforts and support of the dealers who have walked alongside Honda Korea."
Honda Korea's domestic sales last year totaled 1,951 units, down about 22% from the previous year.
