Updated Feb.28,2008 06:07 KST

Korean Carmakers Strengthen Sales Overseas
Korean automakers are gearing up to expand their presence in overseas markets. Some big-name companies like Hyundai Motor have already taken steps to broaden their market base abroad while others are following suit with their new models.

The biggest news from domestic automakers last year was that they were churning out more cars than ever. Production easily broke the five million unit mark. But this year automakers expect to crank out even more.

Amid booming production, Korea's big carmakers are looking outside the country for new markets.

As of last year Korean-made vehicles accounted for almost 7 percent of cars made worldwide, and companies are keen on boosting that figure.

Hyundai Motor has already succeeded in grabbing a solid share in India. Its Accent GLE made for the Indian market got the green light to be used as an official vehicle for India's local governments.

Part of their winning strategy lay in hiring the former Indian financial under-secretary as their branch CEO.

The same Accent model line has also performed well in the colder climes of Russia. Among imports there it ranked number one in sales for the month of January.

Kia Motors is following a similar path as it hopes to target the European market backed by growing demand for its latest model Ceed, which sold over 120,000 units last year.

Automakers with foreign parent companies but plants in Korea are also looking to distant shores.

GM Daewoo is gearing up to come up with a model that appeals to overseas markets. Renault Samsung is putting added weight on exports which made up about a third of global sales last year. Hopes are high for its first crossover model QM5 aimed at overseas motorists and expected to well exceed sales at home.

Arirang News