Renault Samsung
 |
|
|
Native name
|
르노삼성자동차 주식회사 |
|---|---|
| Subsidiary | |
| Industry | Automotive |
| Founded | 1994 |
| Headquarters | Busan, South Korea |
|
Key people
|
Dong Hoon Park (CEO) |
| Products | Cars, luxury cars |
|
Production output
|
 132,541 (2013) |
| Revenue |
 ₩5.02 trillion (2015) |
|
₩326.2 billion (2015) |
|
|
₩251.2 billion (2015) |
|
| Owner |
Renault (80.1% ) Samsung (19.9% ) |
|
Number of employees
|
4,387 (December 2013) |
| Parent | Renault |
| Website | renaultsamsungm.com |
| Renault Samsung Motors | |
| Hangul | 르노삼성자동차 |
|---|---|
| Hanja | 르노三星自動車 |
| Revised Romanization | Reuno Samseong Jadongcha |
| McCune–Reischauer | Rŭno Samsŏng Chadongch'a |
Renault Samsung Motors (Korean: 르노삼성자동차, IPA: [ɾɯnoː sʰamsʰʌŋ dʑadoŋtɕʰa]), also known by the acronym RSM, is a South Korean car manufacturer headquartered in Busan where its single assembly site is also located, with additional facilities at Seoul (administration) and Giheung (research and development). It was first established as Samsung Motors in 1994 by the chaebol Samsung, with technical assistance from Nissan. The company started selling cars in 1998, just before South Korea was hit by the Asian financial crisis. In September 2000, it became a subsidiary of Renault and adopted its present name, although Samsung maintained a minority ownership. RSM markets a range of cars, including electric models and crossovers.
In the early 1990s, Samsung's Chairman Kun Hee Lee recognised the automotive industry as the culmination of several others. For the Samsung Group, this would allow to leverage resources and technologies from the entire group including Samsung Electrics and Samsung Electronics. He initially tried to take control of Kia, but competition from other bidders and legal restrictions made him to drop the idea. Kia was eventually purchased by Hyundai.
Lee decided to create a new carmaker, Samsung Motors (also known as SMI) and a truck manufacturer, Samsung Commercial Vehicles Co., Ltd. (Hangul: 삼성상용차 주식회사; RR: Samseong Sangyongcha Jusikoesa), the latter through Samsung Heavy Industries with Nissan Diesel's support. SMI was established in 1994 (incorporated in 1995) and Daegu-based Samsung Commercial Vehicles in 1996. Shortly after SMI started its operations, the Asian financial crisis hit. Samsung divested itself of SMI as well as other non-core subsidiaries. SMI was put up for sale, with Daewoo Motors being one of the first interested companies, but, as the crisis deepened, Daewoo Motors itself was bought by GM.Hyundai Motors was also considered as a possible buyer, but corporate politics and strife between the Samsung Group and the Hyundai Group made this impossible. Negotiations with Renault started in December 1998, and in September 2000 the French automaker bought a 70% stake for $560 million. Samsung Commercial Vehicles was kept by Samsung, but finally it filed for bankruptcy at the end of 2000.
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Wikipedia