After 23 Years in Business, Honda Has Decided To Withdraw From The South Korean Auto Market.

Honda Motor Co.'s South Korean subsidiary announced on the 23rd that Honda will withdraw from the South Korean auto market by the end of this year, ending its 23-year automotive business in South Korea, retaining only its motorcycle-related business.

Honda Korea, the subsidiary responsible for sales in South Korea, held an impromptu press conference at the Seoul International Convention Center on the 23rd to announce the end of its car sales operations in South Korea by the end of this year. Lee Ji-hong, head of Honda Korea, told reporters that the company made the decision after carefully assessing its business direction in South Korea, taking into account changes in the business environment and exchange rates. After withdrawing its automotive business from the South Korean market, Honda will continue to provide after-sales services such as car repair management and parts supply.

Honda Korea will continue its motorcycle business in South Korea, improving product competitiveness, service quality, and brand experience.

Honda entered the South Korean motorcycle market in 2001 and established a car sales subsidiary in South Korea in 2003. At its peak in 2008, Honda sold approximately 12,000 cars in South Korea. Subsequently, due to competition from South Korean domestic car brands and other competitors, Honda's sales continued to decline, falling to approximately 2,000 units by 2025.

In the South Korean motorcycle market, Honda has sold over 420,000 units as of last month, ranking first in market share.