Citroen is to launch back into the South Korean market and aims to sell up to 2,500 cars a year, Eric Dumondelle, head of the company’s Asia Pacific division said at the Seoul motor show.
Citroen left Korea market nine years ago after battling slow sales and high import duties. It launched a trio of DS models and Dumondelle said the company hopes to benefit from the Korea-EU Free Trade Agreement due to go be implemented from July.
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The Korea-EU FTA signed in October last year, will gradually remove the current 8% tariff on European cars exported to Korea. Citroen is one of many European carmakers that believe there are many potential customers in the country looking to buy reasonably priced imported cars.
However the FTA deal is yet to be ratified by the Korean National Assembly.
Citroen vehicles were sold in South Korea in the 1990s and early 2000s through Hanbul Motor but the brand pulled out in 2002 due to poor sales.
Dumondelle said Citroen is waiting for authorities to clear import permits expected before October this year but refrained from commenting on prices.
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