While the Lexus brand has been active in South Korea since 2001, the Toyota brand made its debut in the market only just last year. During 2010, the Japanese company sold some 4,200 Camry sedans, making it one of the best-selling foreign cars in the country.
As expected, Toyota is planning to sell the new generation of the Camry in South Korea starting from early 2012. However, the Nikkei business daily reported on Monday that the Japanese company is mulling transferring production of the South Korean Camry from Japan to the United States.
The Japanese daily says the reason why Toyota is contemplating such a move, is not only because of the strong yen, but also because of a free trade agreement between the U.S. and South Korea that would further help reduce the export costs of the mid-size sedan.
Toyota refused to comment on the report.
Story sources: Nikkei via Reuters
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