The official launch event for BYD electric vehicles in the South Korean market, held on January 16. (Yonhap)
SEOUL, March 16, 2025 (Korea Bizwire) — Chinese electric vehicle giant BYD has established a new subsidiary in South Korea dedicated to the import and distribution of used cars, signaling an expansion of its presence in the country’s automotive market.
According to industry sources, BYD recently set up BYD Korea Auto, a separate entity from BYD Korea, and registered its business purpose as the import and distribution of used vehicles. Under this structure, BYD Korea will handle new car sales, while BYD Korea Auto will oversee the used-car business.
The move comes as BYD faces delays in launching its first model in South Korea, the Atto 3, a compact electric SUV. Despite opening pre-orders on January 16, 2025, the company has yet to deliver vehicles to customers, as it is still completing regulatory procedures, including registration under the Ministry of Trade, Industry, and Energy’s Eco-Friendly Vehicle Notification System.
Industry analysts speculate that BYD’s expansion into used-car sales aligns with its broader strategy to strengthen fleet sales—bulk transactions to corporate clients—while preparing for a more robust market presence in South Korea.
A BYD Korea spokesperson commented on the new subsidiary, stating, “We established BYD Korea Auto while considering the market potential of various business areas in South Korea. However, no specific plans have been finalized regarding its operations.”
As BYD works to complete the necessary approvals for new vehicle sales, its parallel investment in used-car distribution suggests a long-term commitment to the South Korean market, despite initial hurdles.
Kevin Lee (kevinlee@koreabizwire.com)
