Executives of imported cars are working in Korea hit the ground running. It is not too much to say that they get promoted when they start working in Korea. This is largely due to the fact that the domestic foreign car market is growing fast and has high growth potential in the future.
On May 13, Mercedes-Benz Korea CEO Brittal Seeger became the new CEO and head of the commercial vehicle division at Mercedes-Benz in Turkey. The commercial vehicle market in Turkey is the third largest among the group, and she got promoted as well. Industry sources said, “Benz has a five-level system, and Seeger promoted to the level just below the group chairman this time.”
The current Daimler Trucks Korea CEO Rainer Gaertner, who will become the new CEO at Daimler Trucks China in July, is another example of promotion. Since China is the largest market in the world, some say that everything worked out for him.
As BMW Korea CFO Torben Karasek became executive director in Korea in April, he is given a chance to become the CEO at overseas corporations. David Mclntyre, who served as CEO at Jaguar Land Rover Korea from 2012 to the end of last year, currently works as Regional Director for the Asia Pacific at McLaren Automotive.
The reason why foreign executives working at imported car brands in Korea keep on climbing is that the Korean market is growing at rapid rates. Last year, the number of new imported car registrations in Korea reached an all-time high of 196,359 units. The figure showed a whopping 25.5 percent growth from a year ago.