Renault Korea

History

Renault Korea was founded in 1994 as Samsung Motors Inc., part of the Samsung Group chaebol, with technical assistance from Nissan. The first car, the SM5, began production in 1998 but its launch coincided with the Asian Financial Crisis that devastated the South Korean economy. Samsung was forced to divest its automotive arm, and in 2000 Renault acquired a 70.1 percent stake for approximately US million, renaming the company Renault Samsung Motors.

The early model lineup used Nissan platforms, with the SM3 launching in 2002, the SM7 in 2004, and the QM5 crossover in 2007. Over time the company shifted to Renault-based platforms. A significant expansion came through a US million contract manufacturing agreement with Nissan to build the Rogue SUV for export, making the Busan plant a major production hub for the North American market.

In March 2022 the Samsung trade name was dropped and the company became Renault Korea Motors. Later that year Geely Holding acquired a 34.02 percent stake through its subsidiary, with Renault retaining majority control. Renault Korea was an early EV adopter, launching the SM3 Z.E. in 2013 which held a 58 percent share of the Korean EV market that year.

Innovations

Renault Korea pioneered electric mobility in South Korea with the SM3 Z.E., the country's first mass-produced electric sedan, which dominated the early Korean EV market. The company's ability to win and execute the Nissan Rogue contract manufacturing deal demonstrated world-class production quality and cost competitiveness.

The partnership with Geely combining Renault's European design with Geely's CMA platform for future models represents an innovative cross-cultural manufacturing model. Renault Korea has also served as a testbed for Renault Group's understanding of the demanding Korean market.