Actus des entreprises

Renault Group announces large-scale investment plan in Korea as a key export hub

French auto group Renault held a press conference in Gangnam, Seoul on 11th October to discuss its new strategy for the Korean market announced by Luca de Meo, Chairman and CEO of Renault Group during his first visit to Korea. 

Luca de Meo remarked that it was necessary to redefine Renault's position in Korea along with the ongoing Renault Plan, of which the key is to switch the focus from sales volume to value creation. Renault Korea Motors’ recent name change also reflects the Renault Group's aspirations for the Korean market. Renault Korea Motors changed its name from Renault Samsung Motors in March.  

The Renault CEO then said the Busan plant will serve as the export hub of mid- and large-sized vehicles for the French company and the group was willing to invest hundreds of millions of euros in Korea over the next six years to come in the research and development fields. The amount of the investment will be estimated to be over 1 trillion won (US$700 million). To that end, securing an appropriate environment for Renault Korea Motors' performance capability should be followed, the company said. 

Renault Korea Motors also unveiled the new mid- to large-size hybrid model under research and development expected to launch in 2025.