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The Korea Herald
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THE INVESTOR
March 29, 2024

Automobiles

Hyundai Motor lures Samsung execs with ‘Samsung Edition’ Grandeur

  • PUBLISHED :December 01, 2016 - 14:43
  • UPDATED :December 01, 2016 - 14:43
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[THE INVESTOR] Hyundai Motor has launched the “Samsung Edition” Grandeur luxury sedan to appeal to Samsung Group executives ahead of the nation’s largest conglomerate’s year-end reshuffle.

The nation’s executive limousine market is an annual 30,000 vehicles. Despite the tiny figure, the picks by executives have become a crucial selling point for carmakers to appeal to high-end customers. 




At Samsung that appoints almost 300 new executives every year -- the largest among local conglomerates -- it usually takes 20 years for a new employee to become an executive called sangmu or vice president.

Along with diverse welfare benefits, a newly appointed executive is offered a commuting vehicle and is allowed to pick a 3,000cc sedan car with a price tag of less than 40 million won.

While most executives prefer to ride in a Korean brand car, the 20-year-old Hyundai Grandeur used to dominate the executive vehicle market. But more recently its younger sibling, Kia Motors’ K7, is fast outpacing it in terms of sales.

Of the 220 vice presidents promoted last year at Samsung, 106 picked the K7, while only 79 chose the Grandeur.

With the revamped Grandeur in five years, Hyundai aims high to grab the top title again.

The carmaker has also opened a pop-up showroom for the Grandeur at Samsung’s Seoul head office, while holding test-driving events touring other big companies.

“Hyundai has launched the Grandeur to meet the executive demands during the year-end reshuffle season. The car would greatly affect the carmaker’s sales overall this year,” an industry source said.

The new Grandeur, launched on Nov. 22, boasts sleek and modern styling with a brand-new cascading grille. The car has also upgraded safety systems, called Hyundai Smart Sense, including driver alert, automatic emergency braking, blind spot detection and smart cruise control.

The carmaker said about 27,000 preorders have been made so far.

By Lee Ji-yoon (jylee@heraldcorp.com)

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