Toyota to Join Seoul Motor Show

Korea Today has reported that the Toyota Motor will participate in the Seoul Motor Show for the first time for a foreign automaker.

Toyota's decision is expected to encourage other foreign carmakers to open stands at the exhibition to be held in November.

``Toyota Motor headquarters in Japan has submitted an application to the organizers. And we expect other hesitant foreign firms such as BMW and Benz to follow suit", said a Seoul Motor Show official.

Foreign carmakers had declined to participate in the car exhibition in the past, demanding 50 percent of profits from the motor show and a larger exhibition space.

The car importers interest group, the Korea Automobile Importers and Distributors Association (KAIDA) has held its own motor show in the past, even though the Seoul Motor Show is the only one approved by the Organisation Internationale des Constructeurs d'Automobiles (OICA).

Toyota began sales here last year, selling 841 Lexus models and capturing 10.8 percent of the imported car market. It captured the third place behind BMW and Mercedes Benz among the foreign car sales here.

The Seoul Motor Show will be held at the Convention and Exhibition Center (COEX) in southern Seoul between November 21 and 29, with the participation of 12 carmakers such as Hyundai, Daewoo, Kia, Ssangyong and Renault-Samsung as well as manufacturers of 168 car components and accessories.