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Mitsubishi Motors to Start Car Sales Operations in Korea; MMSK, Mitsubishi Motors' Sole Distributor in Korea, Established for New Market Entry.

Seoul, July 3, 2008 - (JCN Newswire) - Mitsubishi Motors Corporation announces that, as one of the key elements of its strategy for the Asian region in fiscal 2008, it is to enter the built-up car sales business in Korea working through its sole distributor in that country MMSK Corporation.

MMSK is a Japanese/Korean joint venture recently set up by Daewoo Motor Sales Corp., Mitsubishi Corporation and Mitsubishi Corporation (Korea) Ltd. MMSK will work to grow and develop MMC's distribution, sales and after-sales servicing businesses in Korea.

Starting in October 2008 MMSK plans to phase the introduction of MMC's Lancer Evolution high-performance 4WD sedan, Outlander mid-size SUV, Eclipse sports coupe, Lancer sports sedan and Pajero all-round SUV models onto the Korean market. MMSK aims to sell 400 units in the first year and increase volume to 3,000 units by 2010.

The phased introduction of MMC's best-selling models into Korea where the imported car market is currently growing very rapidly will allow MMC to establish and boost penetration of the Mitsubishi brand with its products meeting the needs of a wide spectrum of customers.

MMSK: sole distributor of MMC cars in Korea
Company name: MMSK Corporation
Head office: Seocho-gu, Seoul Metropolitan City, Korea
President & CEO: Mr Choi Jong-Yeol
Establishment: March 2008
Capitalization: 14 billion Won (approx. 1.4 billion yen)
Shareholders: Daewoo Motor Sales Corp 85%
 Mitsubishi Corporation 10%
 Mitsubishi Corporation (Korea) Ltd. 5%
Business lines: Import, sales and after-sales servicing of
 MMC cars and parts


About Mitsubishi Corporation

Mitsubishi Corporation (TSE: 8058; ADR: MSBHY) is Japan's largest general trading company (sogo shosha) with over 200 bases of operations in approximately 80 countries worldwide. Together with its over 500 group companies, Mitsubishi Corporation employs a multinational workforce approximately 55,000 people. The Group has long been engaged in business with customers around the world in virtually every industry, including energy, metals, machinery, chemicals, food and general merchandise. Mitsubishi Corporation's commitment to social responsibility is embodied in its corporate philosophy and demonstrated through its extensive programme of cultural, environmental and educational projects worldwide. For more information, please visit www.mitsubishicorp.com .

Source: Mitsubishi CorporationMitsubishi Motors

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Publication:JCN Newswires
Date:Jul 3, 2008
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