TOKYO -- Honda Motor Co. is to begin selling cars in South Korea, becoming only the second Japanese auto maker to do so after Toyota Motor Corp., a company spokesman said on Monday.
Local media reports said Japan's second-largest auto maker would begin selling cars there later this year in the subcompact and sport utility segments.
The Honda spokesman said he could not confirm the details, but that the company would hold a news conference in Seoul on March 25 regarding its entry into the country's car market.
South Korea's car market is one of the fastest-growing in Asia, but is dominated by local makers, with the Hyundai Motor group controlling about 80 percent. Toyota, Japan's top auto maker, sold just 3,000 vehicles in the country last year.
Honda's motorcycle unit in South Korea will change its name to Honda Korea from Honda Motorcycle Korea Co. and the renamed unit will also sell cars in future, a company source said.
Honda has sold cars in South Korea in the past but only under other nameplates.