Toyota announced, yesterday, that 6000 Toyota Camrys will be exported from its Kentucky plant to Korea, early next year, along with a undisclosed number of Toyota minivans.
Toyota claims that the exports will support over 20,000 American jobs. At present, Toyota exports over 100,000 American-made Toyota cars and trucks.
The step, also, is a good move for Korean consumers. The Camry will, now, likely compete head-on with mid-size Korean family cars. Now, the price of Toyota cars are not competitive because of trade and non-trade barriers that puts the Camry out of the radar screen of the average Korean consumer.
I doubt that many Koreans will be buying Camrys in large numbers, but likely the local Korean car manufacturers will be forced to keep their prices in line with the prices they charge consumers in the states.
- South Korean Economy May be in a Slow Decline: Sign of M & A Increase in Korea?
- South Korea and Vietnam Negotiate FTA: Korea’s Nuclear Exports
- South Korea Puts Near-Total Ban on Japanese Fish Imports Opening Opportunities for other Nation Exporters
- UN Report: Korea’s Latest Successes and Shortcomings
- Korea Legal News for the Week of October 6, 2013
- Korea Legal News for the Week of September 22, 2013
- Korean Year-End Tax Settlement: Common Errors & Omissions
- Is Samsung Doomed? No Innovation Price Trap
- Happy Lunar New Year from IPG Legal
- The Irish’s Gift to the World by Senior Advisor to IPG: No not Guinness