Toyota to Sell Mid-range Cars in South Korea

Toyota Motor Corp., Japan's largest automaker, is to start sales of its mid-range brand in South Korea next year, a company official said Thursday, a move expected to spark fierce competition in the nation's fast-growing market for imported cars.

Inroads by Toyota into South Korea are likely to impact Hyundai Motor Co. and its affiliate Kia Motors Corp., which have together dominated the domestic automobile market of some 1.3 million vehicles, analysts say.

Toyota's executive vice president Tokuichi Uranishi, who is in charge of overseas sales, will visit South Korea and brief the press on details March 20, the official at the Japanese company's Korean unit said.

"On March 20, we will announce which models will be sold in South Korea," the official said on the condition of anonymity.

Toyota began selling its high-end Lexus models in South Korea in 2001.

Earlier in the day, a local daily reported Toyota would sell its popular Camry, the hybrid Prius and a sport-utility vehicle RAV4 in South Korea.

Its rival Nissan Motor Co. is also preparing to sell three mid-range models in South Korea late this year, following the successful launch of its Infiniti luxury marque two years ago. (Yonhap)