BMW to Begin Financing Plan
German automaker Bayerische Motoren Werket AG is stepping into the domestic installment finance market, a first for a foreign carmaker.The Financial Supervisory Service said Tuesday that it received BMW Korea's application to set up BMW Financial Service Korea. BMW Korea is expected to receive the operating license for its new business this month. BMW Financial Service Korea's initial capital is expected to be around 20 billion won ($153.8 million) and will begin business in September once it receives its license.
The new company plans to offer loans to car dealers through its dealer finance program and will also start a leasing program for its automobiles.
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)