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23 Facts Popular Luxury Cars In South Korea | Jungkook Car
- Its name is a bit awkward (why not just G80 EV?) but otherwise, the 2023 Genesis Electrified G80 survived the conversion from the gas-powered G80 with little to complain about. It is more of a grand tourer than a performance-oriented sport sedan, and its trunk capacity is subcompact, not midsize. Otherwise, the Electrified G80 ticks all the right boxes for a luxury midsize sedan. - Source: Internet
- Japanese cars were kind of a thing, but were nowhere near as popular as their Korean equivalents. Here are a few we spotted (albiet, at a motorsport event…) - Source: Internet
- Attempts to purchase luxury yachts reveal that North Korea uses indirect payments to acquire prohibited items. For example, in 2009, the DPRK attempted to buy two luxury yachts in Italy, with assistance from Austrian citizen Josef Schwartz. Schwartz pooled funds in his Austrian bank account, which had been wired in various amounts from a number of companies in different locales as well as from DPRK banks. Once investigated, Schwartz reassigned sales contracts to Complant International Transport (Dalian) Co., Ltd, which continued to conceal the destination of the yachts, and used a third company to wire money to the Italian shipbuilder. - Source: Internet
- In fact, the C4ADS report found that as many as 90 countries sent North Korea at least $191 million worth of luxury goods between 2015 and 2017. While there is some variation between what some might consider “luxury,” the Mercedes-Maybach S600 clearly qualifies. As CNN noted, the car has leather massaging seats and is so heavily armored that it can “protect occupants from steel-core ammo fired from assault rifles and from explosive devices.” - Source: Internet
- Cable cars, manufactured by an Austrian company and previously used in an Austrian ski resort, were sold to an Austrian secondhand dealer, Pro-Alpin. In turn, Pro-Alpin sold the cable cars to an unidentified Chinese company. The Chinese company then arranged for the equipment to be shipped to North Korea. - Source: Internet
- Porsche sold 5,679 units in the seven months to July, up 22.2% year-on-year.“Despite our cars being delivered without some options because of the chip shortages, we have not yet seen customers jumping ship because we will have those features installed free of charge when the automotive chip supply conditions improve,” said the official at its South Korean operations.Among the imported cars, sales of eco-friendly models such as electric vehicles almost quadrupled to 20,470 units, with sales of sports utility vehicles up 110%┬а - Source: Internet
- There are diesel BMWs everywhere. Richer areas have (what I can only assume are crazy expensive) imports like Maseratis and Bentleys. My contact lets me know it’s the import taxes, colloquially known as the “Kimchi premium”, that makes import cars much more expensive than local alternatives. - Source: Internet
- With regard to using third countries for luxury goods transfers, the Panel of Experts has noted “a trend whereby luxury items in manufacturers’ countries are transferred to third countries with different criteria for luxury goods prior to their end use in the DPRK.” Indeed, as the case studies below show, this seems to be one of the most frequently used strategies. The UN acknowledges that such movements often occur “with the manufacturers/companies having no idea about their final destination.” - Source: Internet
- A total of 172,146 units of imported passenger cars have been sold in the country between January and July of this year, up 16.3% year-on-year, according to the Korea Automobile Importers and Distributors Association (KAIDA) on Aug. 17. - Source: Internet
- The Electrified G80 is pricier, but in most other areas it outshines those two. It is longer, at 197 inches overall, and front legroom is not quite an inch less than the class-leading Model 3. Range and power are competitive, and while the G80 EV is a bit less efficient than its electric competitors, it puts the best of the internal combustion luxury sedans to shame. - Source: Internet
- Kim is also the proud owner of a $1 million Mercedes-Maybach Pullman Guard armored limousine and has been spotted several times in a Rolls-Royce. As far as his Mercedes collection goes, the automaker’s parent company, Daimler, told CNN that it has “no indication” of how the cars “were delivered [or] where they come from.” - Source: Internet
- The so-called “revenge shopping,” a post-lockdown shopping hype to purchase luxury goods and the wider income gap fueled the 74.1% year-on-year surge in sales of the high-end imported cars in the country between January and July. The increase in their South Korean shipments marked the strongest pace of growth in five years. - Source: Internet
- In particular, sales of luxury models jumped by 74.1% to 39,965 units during the same period, representing 23.2% of the imported vehicles. Among them, the vehicles priced between 100 million and 150 million won took up the majority of 73%.┬а - Source: Internet
- While goods have emanated from a variety of countries, the country which stands out in facilitating transfers to the DPRK is China. As outlined below, Chinese companies have been implicated in assisting North Korea in a variety of ways in order to provide the DPRK with access to goods designated as luxury items by other states. The Chinese government has also argued for a more flexible interpretation of the luxury goods ban. Implicated as well in the examples below are Singapore and Ukraine. In previous years, Malaysia and Russia were named, too. - Source: Internet
- However, the best example of how strong premium and luxury brands are in South Korea right now is Genesis. Sales of the G80, priced at roughly $50,000 actually surpassed those of the $30,000 Hyundai Sonata last month, hitting a record high. That’s the type of trend that’s unlikely to be replicated in most other countries. - Source: Internet
- The public appearance of a Rolls-Royce Phantom limousine in Pyongyang on 7 October 2018 is currently under investigation. Previously, a Rolls-Royce Ghost was seized by the Bangladesh Customs Intelligence in January 2017. The vehicle was falsely declared, and brought into the country for resale, by a DPRK diplomat who had been expelled from Bangladesh. While details of the case continue to be investigated, the strategy of bringing luxury goods into another country for resale highlights that luxury goods are used to generate income, either for personal gains or to support state-run programs, including the nuclear weapons program. Also noteworthy is the involvement of a DPRK diplomat. - Source: Internet
- Here’s another Renault Samsung. Another one of those old cars that seemed to buck the trend for popularity. This one is an ‘SM5’. - Source: Internet
- In the early 2000s, the price of a BMW 320 was the cost of a Gangnam apartment, said Ro Chang-whan, a longtime dealer and exporter of used cars. House prices have gone up enormously since and buying a car is a more realistic choice. - Source: Internet
- A number of high profile violations of the luxury goods ban of motor vehicles have occurred, which are typically discovered when luxury vehicles are displayed during parades put on by the North Korean regime. Since luxury vehicles are included in the list of goods published by the UN (refer to Table One), they are clearly covered by the ban. As such, these violations can point to important patterns of North Korean strategies to circumvent the ban that do not rely on countries’ varied interpretations of the ban. - Source: Internet
- Of prime importance to Koreans is luxury. “It’s all about appearances” my contact tells me when I ask about the luxury cars littering the streets. “Many people would rather have a nice car than a good apartment”. - Source: Internet
- “In the early 2000s, the price of a BMW 320 was the cost of a Gangnam apartment,” said Ro Chang-whan, a dealer and exporter of used cars. “House prices have gone up enormously since and buying a car is a more realistic choice.” - Source: Internet
- The HTWO Korean car company is still in its very early stages within the market. The company was announced at the end of year in 2020 by the Hyundai Motor Group. According to the parent brand, this sub-brand will be responsible for producing world-leading hydrogen fuelled cars. - Source: Internet
- There are multiple additional reports of transfers of alcoholic beverages to North Korea. Several of these transfers were facilitated by Chinese company Dalian Global Unity Shipping Agency, which was also implicated in the transfer of Mercedes Benz limousines. Dalian Global Unity Shipping Agency provided instructions to vendors for evading the luxury goods ban. - Source: Internet
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