The automotive industry in South Korea is the fifth-largest in the world measured by automobile unit production and the sixth-largest by automobile export volume.
While its initial operations were merely the assembling of parts imported from Japan and the United States, Korea is today among the most advanced automobile-producing countries in the world. Annual domestic output first exceeded one million units in 1988. In the 1990s, the industry manufactured numerous in-house models, demonstrating not only its capabilities in terms of design, performance, and technology, but also signalling its coming of age.
Famous quotes containing the words industry and/or south:
“Change of fashion is the tax levied by the industry of the poor on the vanity of the rich.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“The developments in the North were those loosely embraced in the term modernization and included urbanization, industrialization, and mechanization. While those changes went forward apace, the antebellum South changed comparatively little, clinging to its rural, agricultural, labor-intensive economy and its traditional folk culture.”
—C. Vann Woodward (b. 1908)