Samsung Offers Lexus to Executives
Samsung Electronics has provided luxury Lexus
sedans to seven of its presidents early this year, replacing previous
Hyundai Motor’s Equus sedans.
According to the Central Motors Corp., one of
nine dealers of the Japanese luxury auto brand in Korea, the
electronics giant purchased seven Lexus LS430 worth some 110 billion
won for the seven presidents including Hwang Chang-gyu and Lee Ki-tae.
Samsung Electronics said provision of luxury
sedans to top rank executives follows a promise by Samsung Group
chairman Lee Kun-hee that he would treat his executives on the same
footing with their counterparts in top-tier global multinational
corporations.
“Samsung Electronics decided to purchase
Japanese brand cars taking into account the fact that our major
Japanese business associates have purchased Samsung’s products on a
massive scale,’’ a Samsung Electronics executive said on condition of
anonymity.
In the beginning of the year, the Samsung Group
decided to grant premium passenger vehicles to executives with ranks of
executive vice president or above at its affiliated firms.
A chief executive of Samsung Everland also recently purchased a Lexus sedan.
Top executives of other Samsung Group affiliates
are also expected to replace their sedans with latest foreign offerings
later this year.
Until last year, the Samsung Group has provided
executive vice president and above level executives with Equus, the
most expensive model produced by Hyundai Motor, and SM7 to senior
executives with ranks above vice president.
Samsung Electronics said the company supports 80
million won for the new car, price of Hyundai Equus, and its top-rank
executives can purchase any luxury car they want as long as their
shoulder the rest of the cost burden.
Lee Kun-hee currently rides in the Daimler
Chrysler flagship Maybach 62, an ultra-luxury sedan priced at 720
million won, and his wife Hong Ra-hee owns Audi A8. Samsung Electronics
vice chairman Yun Jong-yong uses Mercedes-Benz S500 provided by the
company and Lee Hak-soo, vice chairman of Samsung Group’s corporate
restructuring office, rides Audi A8 4.2 Quatro.
Maybach 62, which has a price tag higher than the
Rolls-Royce’s new Phantom, is the most expensive passenger vehicle
available in Korea so far.
Link: The Korea Times : Samsung Offers Lexus to Executives.
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