The Maybach Atelier in Sindelfingen, Germany (Image courtesy of Yonhap)
SEOUL, Mar. 18 (Korea Bizwire) – With their vehicles commanding prices of over 300 million won apiece, the world’s most elite automakers are accelerating their courtship of South Korea’s luxury car market, unveiling custom programs, flagship brand centers and exclusive limited editions.
Even as overall imported car sales dipped last year amid economic headwinds, demand for ultra-premium nameplates like Mercedes-Maybach, Bentley and Rolls-Royce soared by nearly 24 percent. Sensing an opportunity, these luxury marques are now jockeying for position in one of their most lucrative markets outside China.
According to the Korea Automobile Importers and Distributors Association (KAIDA), sales of imported vehicles priced over 150 million won reached 33,999 units last year, up 39.6 percent from 2022 despite the broader market declining 4.4 percent.
The Rolls-Royce EV Spectre (Image courtesy of Yonhap)
Leading the charge is Mercedes-Maybach, Daimler’s ultra-exclusive sub-brand for which South Korea represents the second-largest market after China. This year, Maybach will open a first-of-its-kind brand center in Seoul’s affluent Apgujeong district, taking over the former headquarters of entertainment giant SM Entertainment.
While Maybach has previously established bespoke “ateliers” for custom orders at Daimler’s German headquarters and in China, this new space in the heart of Seoul’s luxury car scene will be the brand’s first dedicated standalone facility.
Not to be outdone, Bentley and Rolls-Royce are also rolling out the red carpet. Bentley, which set a sales record in Korea last year, debuted the world’s first “Bentley Cube” immersive brand experience in Seoul’s Cheongdam neighborhood in March. The space will host exhibitions and bespoke commissioning consultations.
The Bentley Flying Spur (Image courtesy of Bentley)
Bentley also recently launched the Continental GT Korea Limited Edition exclusively for the local market. And from March 28-31, it will stage a “Quiet Luxury” lifestyle event at its Bentley Tower showroom in collaboration with fashion houses like Acqua di Parma and Akris.
Bentley noted that the pop-up was the first of its kind in the industry, and will showcase limited-run models alongside luxury wares.
For its part, Rolls-Royce plans to open a bespoke commissioning suite in Seoul’s Jamsil district this year — just its third worldwide after similar ateliers in Goodwood, England and Moscow, Russia. The revered British marque will also unveil two new limited edition “Black Badge Ghost Cheongdam Editions” on March 28 to mark two decades since establishing its flagship showroom in the posh Cheongdam neighborhood.
Fellow ultra-luxury players like Porsche, Maserati and electric upstart Lucid are also eyeing the Korean market more closely. Porsche is currently scouting locations for a new experiential “Porsche Experience Center”, while Maserati will establish an official national sales subsidiary in July.
“Korea is seen not just as a key luxury car market, but as a bellwether for future trends across the high-end auto world,” said one industry analyst, explaining the influx of bespoke programs catering to Korea’s discerning and affluent consumer base.
Kevin Lee (kevinlee@koreabizwire.com)
