I 209 I
Doosan Infracore and Hyundai Construction Equipment had a combined market share of over 70% in the local market.
Table 6: Local Market Share in 2017
Company
Doosan Infracore
Hyundai Construction Equipment
Others
Source: Media reports, etc., 1 Excavator, 2 Loader
Specialty Equipment Market
Despite demand by certain segment of car owners to differentiate this sector, there are negative perceptions correlated with modified cars. The car modification and tuning market can be considered relatively less developed compared to the automobile production market in South Korea. However, in recent years, Korea has made modest efforts to ease regulations and vitalize the tuning industry, with efforts including the promotion of tuning authentication systems.
Used and Remanufactured Market
In recent years, regulations regarding the utilization of used and remanufactured automotive products are reflected in pertinent enforcement rules and acts to further clarify and promote the usage of used automotive and remanufactured automotive products.
Enforcement Rule of Automobile Management Act Article 138
Act on the Promotion of the Conversion into Environment-Friendly Industrial Structure Article 23.
For Information about exporting to South Korea contact:
SB Shin
U.S. Embassy Seoul, South Korea
Commercial Specialist - Auto & Smart Mobility Team
82-2-397-4186
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