“(BYD) has actually been considering business in Korea for 10 years, and has never left Korea during that time. We have been watching the changes and processes that Hyundai and Kia have brought to the eco-friendly automobile industry.”
Liu Shenyang, BYD Asia-Pacific CEO, noted during an interview with reporters at the '2025 Seoul Mobility Show' held on the 3rd in Goyang, Gyeonggi Province, that "BYD is pursuing a clear global strategy in the automobile business. Our innovative technologies should not be restricted to specific countries or regions, and all global consumers have the right to enjoy them."
Liu noted, "BYD’s entry into the Korean automobile market is aimed at contributing to the development of the domestic eco-friendly industry and bringing more benefits to domestic consumers," and added, "We consider Korea to be a very important market and are committed to doing our best in global markets, including Korea."
Liu stated, "I understand that Hyundai and Kia have strong brand recognition, and the market expects a premium image for imported cars," but added, "For now, my goal is for more consumers to experience BYD and to listen to their opinions. Rather than focusing on short-term gains, I plan to bring many vehicles into Korea and expand our customer base."
BYD, which officially launched its brand in the domestic passenger car market this year, is accelerating its business expansion. Following the launch of its first model, the 'ATTO 3,' in January, the company unveiled its second model, the 'SEAL,' on this day. The company aims to increase its number of showrooms from 13 to over 30 by the end of this year and plans to open additional service centers.
Regarding future pricing strategies, Liu stated, "We need to set reasonable prices not only in Korea but in several markets. It’s not just a simple low or high pricing strategy, but rather we must fully consider market conditions and consumer demands," and added, "Based on past feedback, it seems that specifications and experiences are more important elements to consumers than price."
He also added, "BYD is a young corporation that is growing based on innovative technologies and competitiveness," and stated, "Since we produce key components for electric vehicles such as batteries, motors, and electronic control devices ourselves, we have the advantage of vertical integration, as well as large production and sales scales."
Participating in the Seoul Mobility Show, which runs from the 4th to the 13th, BYD set up a booth of similar size right next to Hyundai. This marks the first time BYD has participated in a domestic mobility show, where it showcased a total of eight vehicle models, including the locally launched ATTO 3 and SEAL, as well as sub-brand models and its Blade battery technology.