[CEONEWS = Reporter Jo Seong-il] The division between domestic and imported cars has become outdated, as owning an imported car has now become a norm. In fact, one out of every eight drivers in Korea owns an imported car. Among the imported car brands most favored by Korean consumers, BMW leads the pack, often competing neck and neck with Mercedes-Benz. However, the once rapidly growing imported car market has seen a decline for two consecutive years, likely due to economic stagnation. Despite this downturn, BMW has managed to hold its ground and is even receiving praise for its resilience. Let’s delve into the story of Hansang Yun, President & CEO of BMW Korea, who is leading the brand’s success in the Korean market.
BMW Achieves Two Consecutive Years as Top Imported Car Brand
A recent report by the Korea Automobile Importers & Distributors Association (KAIDA) revealed meaningful statistics for the imported automobile market. In 2024, the annual registration of new imported passenger cars stood at 263,288 units, a 2.9% decline compared to the previous year’s 271,034 units.
By brand, BMW sold 73,754 units, securing the number one position for the second consecutive year, while Mercedes-Benz followed with 66,400 units sold.
This performance is expected to positively influence BMW Korea’s sales as it celebrates its 30th anniversary.
BMW Korea has continuously made history in Korea’s imported car market. It surpassed cumulative sales of 10,000 units for the first time in 2002 and reached 100,000 units by 2011. Annual sales first broke the 10,000-unit mark in 2010.
In 2017, BMW Korea shocked the industry by achieving annual sales exceeding 50,000 units. From 2009 to 2015, the company maintained the top position in the imported car market for seven consecutive years. In 2023 and 2024, BMW Korea reclaimed the number one spot, solidifying its market dominance.
BMW Korea, established in 1995 as the first local subsidiary of an imported car brand, is wholly owned by the German BMW Group. Today, it is led by Hansang Yun, President & CEO.
Hansang Yun: The First Korean CEO of a BMW Overseas Subsidiary
Hansang Yun graduated from the University of Technology Sydney with a degree in Materials Engineering. He began his career at Saab Korea and GM Korea, holding roles in marketing, PR, and dealer development. In 2003, he joined BMW Korea and gained recognition for his capabilities through various key positions, including MINI brand marketing, BMW sales and marketing, and overall sales management.
Recognized for his expertise in imported car sales, Hansang Yun became the first Korean CEO of a BMW overseas subsidiary, a decision reportedly supported by a recommendation from then-BMW Korea CEO Kim Hyo-joon.
During his tenure as CEO of BMW Malaysia, Hansang Yun achieved remarkable results. In 2017, the company sold 10,618 units, accounting for 2.1% of the 514,697-unit Malaysian car market, ranking seventh overall. BMW Malaysia consistently secured a place within the top 10 premium automobile brands in the region.
His success positioned him as a natural successor to Kim Hyo-joon, who had long been the face of BMW Korea. In 2019, following Kim’s departure, Hansang Yun took over as CEO. His extensive experience and track record made his appointment seem inevitable.
Restoring BMW Korea’s Image
Upon becoming CEO, Hansang Yun introduced a new management slogan: “One Voice, One Team.” He worked tirelessly to restore BMW’s tarnished image, which had been affected by vehicle fires and emissions certification scandals.
A bold policy was introduced under his leadership: if a diesel vehicle caught fire, it would be replaced with a new car. This program, alongside the adoption of Korea’s version of the “Lemon Law,” demonstrated the company’s commitment to customer satisfaction.
Hansang Yun also faced the challenge of reclaiming BMW’s former glory as the top imported car brand, a title held by Mercedes-Benz from 2016 onwards. Through a leadership style focused on steady and effective management, he succeeded in narrowing the gap with Mercedes-Benz and reclaimed the number one position for two consecutive years.
One of Hansang Yun’s notable achievements includes the comprehensive renovation of the Incheon Yongjongdo Driving Center in celebration of its 10th anniversary. BMW Group Chairman Oliver Zipse praised the center as an exemplary benchmark within the BMW Group.
The Yongjongdo Driving Center, the first of its kind in Asia and only the third worldwide after Germany and the United States, is a unique automotive cultural complex that combines tracks and customer experience facilities in one location.
Driving Toward the Future
In 2023, BMW Korea marked its 30th anniversary with the slogan “Define Driving Pleasure, Again,” signaling a commitment to redefining the joy of driving and leading the way into a new era. Under the leadership of Hansang Yun, BMW Korea continues to set its sights on future growth and innovation.
As the driving force behind BMW Korea’s success, Hansang Yun’s efforts to redefine driving pleasure and steer the company into a new chapter are being closely watched. The story of his leadership and vision will undoubtedly shape the next chapter of BMW Korea’s history.
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