FHI to Enter Car Sales Business in South Korea

TOKYO – January 21, 2010: Fuji Heavy Industries Ltd. (FHI), the manufacturer of Subaru automobiles, today announces that sales of Subaru-brand vehicles will start from April in South Korea working through its local distributor, Subaru Korea Co., Ltd.

Subaru Korea Co., Ltd is the company, set up by KOS group (Yongsan-Gu, Seoul, Korea; Chairman, Ho Jeung Hong), will operate sales, distribution and after-sales servicing businesses of Subaru cars.

The imported car market is currently stable growing in the South Korean automobile market. Especially the categories of mid-size sedan and compact SUV, that the Subaru’s product range fits well, rise in popularity. Furthermore Subaru’s authentic driving performance and all-round safety by its unique Symmetrical All-Wheel Drive system will appeal to the Korean market, where mountains are spread nationwide and the temperature range is larger throughout the year. By offering Subaru’s uniqueness, FHI will establish and increase penetration of the Subaru brand in the market.

Starting on April 2010, the available models are the Legacy, Outback and Forester. Subaru Korea has set an initial sales target of 600 units in the first year and aims to increase that number to 3,000 units by 2015. Subaru Korea is in the process of developing its own dealer network and scheduled to open Subaru outlet in Seoul and Pusan at first then expands to the other metropolitan areas in South Korea.