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Asia Towner

1992 – 1999 · South Korea

Asia›Towner

Asia Motors Industries, also known as Asia Motors, was a renowned South Korean car manufacturer that operated from 1965 to 1999. Initially established in 1965 in Gwangju with financial backing from entrepreneur Lee Mun-hwan, the company focused on producing military vehicles, trucks, and buses. However, it expanded its operations by entering into negotiations with Fiat in 1970, leading to the assembly of Fiat 124 models in their facilities. During its operational years, Asia Motors benefitted from tax exemptions implemented by the Korean government aimed at promoting local assembly of KD cars using imported parts. This government incentive program, which began in 1962 as part of the First Five-Year Economic Development Plan, facilitated the growth and development of the automotive