GM Korea Imports 1st U.S.-Built Model After Bilateral Free-Trade Pact

According to Khabarkhodro,GM Korea Co., the South Korean unit of General Motors Co. (GM), said Monday it will import its first U.S.-built model of a vehicle after the free-trade agreement with the U.S. took effect in mid-March.

 The Chevrolet Corvette Coupe will go on sale in South Korea on Friday, the company said in a statement.

 The two-seater Chevrolet Corvette Coupe is the ninth model of Chevrolet vehicles offered by GM Korea. It has introduced eight models since last year, including the seven-seat Orlando sport-utility vehicle, the Camaro sports car, the Captiva SUV, the five-seat Aveo hatchback and the Cruze hatchback.

 In January 2011, GM Korea dropped the Daewoo brand-name and adopted the Chevrolet brand-name in South Korea as part of GM's rebranding strategy. All its new and updated models carry the Chevy marque, except for three models--the Alpheon sedan, and the Damas and Labo mini cars.

 "The Corvette Coupe will raise the bar for the brand and products, and broaden our base of Chevrolet customers in Korea," GM Korea Chief Executive Sergio Rocha said in the statement.

 The Corvette Coupe, which competes against the Porsche 911 and the BMW Z4, has a six-speed automatic transmission engine for the South Korean market and reaches 100 kilometers per hour in 4.3 seconds, it said.

 The American sports car will be priced at KRW86.4 million ($76,300) in South Korea.

 South Korea is GM's manufacturing base for mini and small vehicles. GM owns a 70.1% stake in GM Korea.