As Japanese carmakers exits Korea, Chinese EV brands rush in to fill gap

Chinese electric vehicle (EV) manufacturers are rapidly expanding their presence in Korea, filling a void left by the gradual retreat of once-dominant Japanese automakers. The shift has unfolded after a series of exits by Japanese brands, beginning with Nissan in 2020 and followed most recently by Honda. Last week, Honda Korea confirmed it will end vehicle sales in the country by the end of this year. The decision will further shrink the footprint of Japanese carmakers in Korea, leaving only Toyota and its luxury division Lexus actively maintaining sales operations. In contrast, Chinese automakers — driven by their aggressive EV expansion strategy — are accelerating their push into the Korean market. Foremost among them is BYD, which has quickly established a strong foothold through its local unit, BYD Korea. The company surpassed 10,000 cumulative vehicle sales in Korea roughly one year after beginning passenger EV deliveries in April last year. It also climbed to fourth place among imported car brands in monthly sales in March, overtaking both Toyota and Lexus. Industry officials sai