BUSAN < invest Korea

According to Yonhap News,

(BUSAN = Yonhap News) The upcoming Busan International Motor Show will be the largest of its kind with three new vehicles to be unveiled for the first time during the 11-day event, organizers said Tuesday.

Twenty-one marques will show off their vehicles at the motor show that kicks off on May 29 and runs through June 8, they said. The Busan Exhibition and Convention Center (BEXCO) is coordinating preparations with the city of Busan, the Korea Automobile Manufacturers Association, and Korea Automobile Importers and Distributors Association.

Participants include South Korean carmakers Hyundai Motor Co., Kia Motors Corp, GM Korea Co. and Renault Samsung Motors Co., as well as 15 foreign makers like BMW, Mercedes-Benz, Audi and Jaguar. Ssangyong Motor Co., a unit of Indian sport utility vehicle maker Mahindra & Mahindra Ltd., has opted to skip the motor show this year.

Organizers said 88 different models from South Korean automakers and 110 from foreign companies will be on display at BEXCO, which has allocated 46,380 square meters to the event.

"Overall space available will be increased by 54 percent compared with 2012, with the total number of cars on display to be the largest in the history of the motor show that was first held in 2001," BEXCO CEO Oh Sung-keun told reporters. Two years ago, there were 159 cars on display.

He declined to give details about the cars that will be shown for the first time, but insiders said one will be a near-luxury sedan by Hyundai Motor that will be slotted above the Grandeur, which is sold as the Azera in the U.S. market.

Hyundai also declined to speak about the car, given development code name AG, that it will reveal in the port city, 453 kilometers southeast of Seoul. Corporate sources had hinted that a new large car will go into mass production within the year.

In addition to the three premiers, there will be five cars shown for the first time in Asia along with 20 that will be unwrapped for the South Korean market.

Oh added that most carmakers plan to increase the size of their booths, with Renault Samsung, which has a production plant in Busan, to double its display space so as to show off its electric vehicle and concept cars.

Beside the cars, this year's motor show will have booths for some 200 car parts makers, with the Global TransporTech (GTT) 2014 fair to be held alongside the motor show. The GTT is one of the largest industrial fairs for automotive equipment and parts.

Organizers said they will hold seminars and "oil-free driving" events where people can drive electric power vehicles and offer 10 vehicles as prizes for people coming to the event.

yonngong@yna.co.kr

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Source Text

Source: Yonhap News (April. 1, 2014)