Honda Korea Announces Withdrawal from Automotive Business by End of 2026; 'Will Continue to Support Existing Customers'

*This content was translated by AI.

Honda Korea (CEO Lee Ji-hong) announced on the 23rd at a press conference titled 'Press Conference on Honda Korea's Business Operations' that it will completely end its automotive sales business in the Korean market by the end of 2026.

Lee Ji-hong (CEO) CEO stated, "We reviewed our future business direction considering changes in the Korean market environment. We concluded that it is necessary to optimize our business structure by focusing on maintaining long-term competitiveness and concentrating operational resources. Accordingly, we have decided to end our business in Korea around the end of 2026." Additionally, Lee Ji-hong (CEO) CEO added, "This was a heavy decision for our company. Since 2004, Honda Korea has met 108,599 customers over 23 years. We are grateful to everyone who loved Honda automobiles. We sincerely apologize for any concerns and inconvenience caused by this decision. We will prioritize customer satisfaction going forward."

Honda Korea Lee Ji-hong (CEO) CEO said, "Even after ending the automotive business, we plan to continue providing and supporting warranties and maintenance services. More detailed information will be communicated to customers. Reporting the termination of our automotive sales business is very regrettable for us. We will take the impact on our dealer companies seriously. Regarding this decision and our response, we will conduct individual and courteous negotiations with each dealer company starting from this month. We will continue to maintain our relationship of trust and proceed diligently. We extend our gratitude to our employees and affiliated companies."

Regarding future direction, Honda Korea Lee Ji-hong (CEO) CEO added, "In the case of motorcycles, Honda Korea will further concentrate its corporate capabilities, strengthen services, and enhance the customer experience."

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*This content was translated by AI.