November 26, 2024

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(Renault Korea Motors)

Renault’s Korean unit announced Wednesday that it has started the process of removing Samsung from its name and rebranding itself as Renault Korea Motors.

The carmaker explained that it hopes to enhance its brand image as a domestic carmaker with its new name by replacing Samsung with Korea despite being part of Renault Group and the Renault-Nissan-Mitsubishi Alliance.

“Under the new name Renault Korea Motors, we will revise product and service competitiveness to meet the high standards of domestic consumers and focus more on the Korean market,” the company said.

The carmaker also presented a new 2D-design logo that is similar to its current logo but much more simple and modern in the shape of a cyclone.

The cyclone-shaped logo portrays the new Renault Korea Motors’ identity of a dynamic and future-oriented company.

Renault Korea Motors plans to strengthen its product lineup with eco-friendly cars in the domestic market.

The carmaker said earlier that it plans to develop new electric vehicles together with Zhejiang Geely Holding Group.

“We expect our newly appointed CEO Stephane Deblaise who majored in engineering in university and served as a program director for mid- to large size vehicles, to contribute in successfully stabilizing Renault Korea Motors,” said an official.

Renault ditching the Samsung label is seen as a process to put an end to its 23-year marriage.

Renault Samsung was launched in 1999 with the French carmaker taking a controlling stake in Samsung Motors. It was then owned by South Korea‘s electronic giant Samsung Group, but went bankrupt when the Asian financial crisis hit the market.

Renault now holds an 80.1 percent share of the automaker and Samsung Card holds 19.9 percent. Last year, Samsung said it would sell its 19.9 percent stake in the carmaker, making their seperation official. Renault has paid 0.8 percent of its profit for using the Samsung name.

By Hong Yoo (yoohong@heraldcorp.com)