Holden Cracks Korean Auto Market

Trade Minister Mark Vaile will introduce the Holden Statesman in Seoul on 31 May, marking the first exports of Australian cars to Korea and a further step in the export enhancement of the Australian automotive industry.

The Statesman cars will be exported to Korea in 2005 and sold under the GM Daewoo banner.

"This is the first Australian vehicle to be fully imported into Korea in commercial volumes," Mr Vaile said.

"Korea is one of the largest vehicle manufacturers in the world and the fact that GM Daewoo has chosen the Statesman as its flagship luxury car is a testament to the quality of Australia's automobile industry.

"Korea has been an important customer of Australian auto components, with exports worth well over A$300 million annually. The sale of whole vehicles is a significant step in expanding Australia's presence both in this market and in Asia more generally.

"The Australian automotive industry employs approximately 55,000 people and accounts for six per cent of total manufacturing activity. Its future will depend largely on its ability to export. The Statesman's success in gaining access to the Korean market is good news for the industry's future.

"As well as being a win for Holden, the Statesman's success is a tribute to the work of the Australian Trade Commission and the Australian Embassy in Seoul. Austrade has worked with Holden for many years, and by organising a technical seminar on Australian Design Rules for motor vehicles, played a key role in ensuring Koreans now have access to this magnificent vehicle."

Holden assumed the role as General Motors' shareholder in GM Daewoo in October 2002, through a US$251 million investment.

Consistent with Australian Government policy of having diplomatic missions drive Australian-made vehicles whenever possible, the Australian Embassy in Seoul will take delivery of the first three Statesman vehicles in Korea.

Contact: Mr Vaile's office 02 6277 7420 - DFAT Media Liaison 02 6261 1555