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)
“We have heard all of our lives how, after the Civil War was over, the South went back to straighten itself out and make a living again. It was for many years a voiceless part of the government. The balance of power moved away from it—to the north and the east. The problems of the north and the east became the big problem of the country and nobody paid much attention to the economic unbalance the South had left as its only choice.”
—Lyndon Baines Johnson (1908–1973)