Chevrolet is selling the Corvette in South Korea for the first time ever.
South Korea has to deal with their 'noisy neighbors' from the North, however their lives might have just become a bit more exciting (in a good way) thanks to a major American automaker. Chevrolet has announced this week that they will sell their popular Corvette model on the peninsula for the first time ever, leaving wealthy Koreans scrambling for their checkbooks. South Korean car enthusiasts can thank a new trade agreement between the U.S. and the Asian country for the new influx of Corvettes.
It isn't all one-way traffic, however, as GM plans on bringing some South Korean-manufactured models to the U.S. as well. One example is the Spark sub-compact car. Of the Corvette, GM Korea Chief Executive Sergio Rocha said in a statement "The Corvette Coupe will raise the bar for the brand and products, and broaden our base of Chevrolet customers in Korea." In regards to the sub-compact Spark, Chevy said "We have exported the mini car model to Europe and other overseas markets but this is the first time we're shipping it to the U.S."
The Corvette will run KRW 86.4 million (about $76,300) in South Korea. The price includes a 4% import tax, which is down from the 8% tax rate prior to the free-trade pact that took effect on March 15, according to the cats over at Fox News.