The Daewoo Statesman is based upon Holdenâ€™s long wheelbase Statesman and Caprice and represents the first in a series of car exchanges between GM operations in the two countries. Holden will import a range of vehicles from South Korea to be sold as Holdens from later this year.
Holden Chairman and Managing Director, Denny Mooney, said two-way exchange between Australia and South Korea helped both markets provide a full range of choice to car buyers.
â€śWe are delighted to deliver the first GM Daewoo cars to South Korea and look forward to introducing the first Korean-sourced four-cylinder cars in our market in the next few months,â€ť Mr Mooney said.
Minister Vaile said today: â€śKorea is one of the largest vehicle manufacturers in the world and the fact that GM Daewoo has chosen the Statesman as its flagship luxury car is a testament to the quality of Australia's automobile industry.
"Korea has been an important customer of Australian auto components, with exports worth well over A$300 million annually. The sale of whole vehicles is a significant step in expanding Australia's presence both in this market and in Asia more generally.
"The Australian automotive industry employs approximately 55,000 people and accounts for six per cent of total manufacturing activity. Its future will depend largely on its ability to export. The Statesmanâ€™s success in gaining access to the Korean market is good news for the industryâ€™s future."
The Daewoo Statesman program was announced by Holden in March 2004. It joined the Middle East as a major export destination for the prestige vehicles and was subsequently joined by plans for a similar export program to China.
The vehicles destined for Korea are built in Elizabeth, South Australia, and shipped with 2.8-litre or 3.6-litre Global V6 engines built at Holden's Port Melbourne facility. They are based on the WL Holden Statesman exterior, with GM Daewoo design cues developed by Holden Design on advice from GM Daewoo. The cars are offered with specifications and interiors comparable to WL Holden Caprice.