Present at the 65th IAA Motorshow in Frankfurt, Porsche announced it has established a new subsidiary in South Korea.
Bernhard Maier, Member of the Executive Board and in charge of Porsche Sales and Marketing, officially announced the establishment of Porsche’s 17th subsidiary located in Seoul. The new subsidiary, Porsche Korea, will start business from January 1st, 2014 and will be the automaker’s fourth subsidiary in the Asian market.
The Asian region represents an important growth market for Porsche, and Porsche Korea will play an important role to support the German automaker’s commitment to the region when it will implement its growth ‘Strategy 2018′.
Porsche presented at the Frankfurt auto show its limited-edition “50 years of the Porsche 911″ model, the latest-generation 911 Turbo and the 918 Spyder plug-in hybrid, considered the sports car of the future.
“Korea is a strong market in Asia with enthusiastic sports car fans and solid sales along all Porsche models. “Korea is a strong market in Asia with enthusiastic sports car fans and solid sales along all Porsche models,” said Bernhard Maier.
Last year Porsche sold 1,516 vehicles in Korea and 1,357 units in August, including 803 Cayenne, 198 Panamera, 164 units of the 911 model and 192 Cayman and Boxter vehicles.