Lee said there are many small and medium-sized firms in Korea doing design work for Chinese automobile companies. “With help of these firms, we plan to commission production of cars that reflect the taste of Korean consumers with existing Chinese car models,” said Lee. Stressing that the motor sales business is also a distribution industry, Lee said, “Just like large distributors supply goods at reduced price by creating their own brands, we can do the same thing with cars.”

By doing so, Daewoo Motor Sales aims to revamp the current manufacturer-centered market structure into a merchandiser and consumer-centered one. As for the types of cars that will be produced and imported to Korea, Lee said his company plans to initially import fuel-efficient small cars, and minivans and vans for 15 or more passengers which are currently being monopolized by some Korean automakers.

Meanwhile, Daewoo Motor Sales and Paramount launched a joint venture to build an amusement park near the airport in Incheon. Construction of the Paramount Movie Park will begin at the end of this year on 499,575 sq.m of land in the new city of Songdo in Incheon, with budget of W1.5 trillion (US$1=W1,045). The park is projected to open at the end of 2011.

(englishnews@chosun.com )