From Korean to French: Renault Samsung Motors, 1997–2009

A.J. Jacobs ()

Chapter Chapter 14 in The Korean Automotive Industry, Volume 2, 2023, pp 451-477 from Springer

Abstract: Abstract This chapter, “From Korean to French: Renault Samsung Motors, 1997–2009,” constitutes the first of two parts chronicling the history of Samsung Motors Inc. (SMI) and its successor, Renault Samsung (RSM). It begins with some background on SMI’s uphill battle to enter the car industry prior to 1997. It then discusses how, aided by Nissan of Japan, SMI launched vehicle production in the middle of the 1997–1998 Asian Financial Crisis. This section also reviews Korea’s newest automaker’s failed merger negotiations with DMC as part of the government’s Big Deal Program. It then discusses how SMI was subsequently placed into receivership by the Samsung Group, culminating in Renault of France acquiring a 70.1% stake in the Busan-based automaker on April 25, 2000. The chapter next examines the early years of RSM, between 2001 and 2005, when the automaker established its footing. This is followed by a section delving into the automaker’s growing profitability from 2006 to 2008, a strengthening that helped it side-step the worst of 2008–2009 Great Recession. The chapter concludes with a brief outline of the RSM’s highlights during 2009, as it prepared for its most productive period in terms of sales and output, 2010 and 2011.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-36453-2_14

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DOI: 10.1007/978-3-031-36453-2_14

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