Ferrari Establishes Joint Venture "Ferrari Korea" with Hyosung FMK

Localization and Enhanced Customer Experience Strategy

Ferrari announced on October 2 that it will establish "Ferrari Korea" as a joint venture with FMK, a dealer company of Hyosung Group. The establishment of the Korean subsidiary is part of Ferrari's global strategy to localize operations in key markets and integrate brand standards.

Francesco Bianchi, Head of Ferrari's Far East and Middle East Division (left), is taking a commemorative photo with Kim Kwangchul, CEO of Ferrari Motor Korea, to mark the launch of Ferrari Korea. Ferrari Korea

Ferrari Korea will be headquartered in Cheongdam-dong, Seoul, and will oversee overall brand operations in the country. The company will be directly responsible for vehicle importation and certification, pricing, inventory and logistics management, marketing and communications, as well as the development and management of the dealer network.

FMK, as the dealer partner, currently operates showrooms and plans to focus on vehicle sales, after-sales, and customer-facing services. The appointment of the CEO of Ferrari Korea will be announced separately at a later date.

Francesco Bianchi, Head of Ferrari Far East and Middle East, said, "This marks the next step in the journey both companies have taken together, enabling us to respond to the market more swiftly while delivering a customer experience that fully aligns with Ferrari's global vision."

Kim Kwangchul, CEO of FMK, stated, "I am proud to have contributed to the growth of the Ferrari brand in Korea over the years," adding, "This joint venture signifies the mutually constructive development of the relationship between the two companies."

This content was produced with the assistance of AI translation services.