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Mercedes-Benz launches car rental services in S. Korea

Economy 14:05 December 03, 2019

SEOUL, Nov. 3 (Yonhap) -- Mercedes-Benz Korea on Tuesday launched car rental services as it moves to gain a bigger share in Asia's fourth-biggest economy.

Daimler Mobility AG, the financial affiliate of Mercedes-Benz, has set up Mercedes-Benz Mobility Korea (MBMK) to enable South Korean customers to rent its vehicles for one to five years, Mercedes-Benz Korea said in a statement.

The German carmaker established MBMK to meet rising demand among Korean customers for long-term premium car rental services, MBMK Chief Executive Guillaume Fritz said in a press conference held in Seoul.

In this photo taken on Dec. 3, 2019, Mercedes-Benz Mobility Korea Chief Executive Guillaume Fritz delivers a speech on the German company's car rental services plan in South Korea. (Yonhap)

"This investment truly underlines the importance of the Korean markets to Daimler Mobility. We will leverage our global experience to strengthen our product and service offerings in Korea," said Yvonne Rosslenbroich, a member of the board of Daimler Mobility AG for the Africa and Asia-Pacific region. "We will continue to expand services we provide through MBMK step by step in line with our global strategy."

Daimler Mobility is positioned for the future with its three core activities of financial services, fleet management and digital mobility solutions. With MBMK, it aims for new subscription and rental models in order to meet customer needs for greater flexibility, Rosslenbroich said.

To grow further in Korea, Mercedes-Benz has been partnering with KT Corp. on connected vehicles in Korea and will continue its partnership with local firms for win-win synergies, Fritz said without elaborating.

MBMK is the first mobility subsidiary established outside Germany, the statement said.

Mercedes-Benz Korea has led other imported carmakers in terms of sales this year, while its rivals such as BMW and Japanese brands have posted declining sales due to the recall of a faulty exhaust gas recirculation (EGR) system and political tensions over Japan's export curbs, respectively.

In the January-October period, Mercedes-Benz sold a total of 62,933 vehicles in South Korea, up 10 percent from 57,117 units a year earlier, according to the Korea Automobile Importers and Distributors Association.

kyongae.choi@yna.co.kr
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