Shinjin Motors
Encyclopedia
Shinjin is a former car manufacturer from South Korea
.
Founded in 1955, and the same bus manufacturer was "Shinjin Bus Manufacturing Company" is an independent company and is now a part of the Daewoo Motors Bus Division
.
-type passenger car
.
The Shinjin Automobile Company division started in 1964, when Shinjin was selected by the Government of South Korea
as the company delegated to implement its "Automotive Industry Promotion Law" (1962). Under this legislation, the importation of assembled automobiles was outlawed, subsidies were made available to assemblers who were also afforded tariff exemption on the importation of parts. Responsibility for deciding which firms would be authorized to undertake automobile manufacturing was held by the Minister of Trade and Industry, who opted to appoint just one company to maximize economies of scale
. The minister initially favored the Sammi Corporation. Preference was shifted to Saenara Motors after the latter made alleged political contributions
to the party recently established by the military government
. Consequently, Saenara signed an agreement with Nissan
who provided the company with technical assistance and a 35 million loan to assist in the construction of a factory in Bupyeong-gu, Incheon
where Saenara began assembling Nissan Bluebird
kits. Workshops were restructured after encountering difficulties producing the parts required, but by 1963 Saenara could not evade bankruptcy any further. As a result, Shinjin took over Saenara in 1964 and was reassigned as the authorized producer. The selection of the Shinjin bid was again attributed to sizeable contribution to the political party in power. However, according to Odaka (1983), the government's selection appears to have made provision for the technological capability of Shinjin.
Shinsungho models continued until 1966, when Shinjin ventured into the assembly of complete knock down (CKD) automobiles, by which time 318 Shinsungho cars had been produced. These CKD kits were supplied by Mitsubishi
, and 21 percent local parts content was achieved. However, a year later this arrangement was terminated and a new foreign venture was established with Toyota. This resulted in models such as the Toyota Corona
being produced. In December 1966, the government decided to terminate the monopoly held by Shinjin by approving a further three companies to commence passenger car production: Asia Motors, Kia
and Hyundai
. The cessation of this monopoly, in conjunction with technological relationships with foreign corporations, substantially uplifted the total automotive industry output in South Korea to 33,000 units in 1969, up from 7,400 in 1966. However, as production numbers started to decline, the government implemented new measures to promote growth. This included permission for the transfer of Toyota's shares in Shinjin to General Motors
in 1972. This ownership transfer was necessitated due to Toyota's wish to move into the Chinese market—the People's Republic of China
prohibited companies operating in South Korea and Taiwan
from operating in mainland China as well. The new partnership sought with General Motors
, resulted in the 50-50 General Motors Korea (GMK) joint venture. Due to financial difficulties, Shinjin sold its stake of GMK in November 1976 to the Korea Development Bank
(KBD), and GMK was retitled Saehan Motors. The KBD later sold this equity stake onto the Daewoo Group
in 1978.
In April 1974, a separate 50-50 alliance was setup between Shinjin and the American Motor Company (AMC), known as Shinjin Jeep Motors. The following month, Shinjin entered into a technical partnership contract with AMC, and in October 1974, production of hard and softtop Jeep
s commenced. In March 1979 AMC relinquished its stake in the firm as it became a domestic corporation and its name was subsequently changed to Shinjin Motors. The corporation was renamed once again in February 1981 to Geohwa Co., which was taken over by Dong-A Motors in December 1984. This acquisition resulted in the "Dong-A" nameplate being applied to all South Korean manufactured Jeeps from 1985. When the SsangYong Group
chaebol
purchased Dong-A in September 1986, the firm was subsequently renamed "SsangYong Motor Company
" in March 1988. At the same time, all "Jeeps" produced by the former Shinjin/Geohwa under the "Dong-A" trademark were re-branded "SsangYong".
and was presented early as 1965; in 1966 mass production began. The model is a license of the Toyota Publica
model. The same year also start production of the Shinjin Corona
, a mid-size sedan with a 44 PS engine. In the same class, Shinjin also produced the Fiat 124
. in 1967, the manufacturer established its first luxury car, the Shinjin Crown
, which was again adjusted however one year later. In 1971 Shinjin released the Shinjin New Crown
in a second attempt to enter this luxury segment. But this was again unsuccessful.
From now on, Shinjin began assembly of vehicles and engines form the German
subsidiary of GM, Opel
. These Opel models were popular in South Korea. In 1972, the Shinjin Record
was released in two separated model versions, 1900 (based on the Rekord D
) and the Royale (based on the Commodore B
). Production of both sedans ended in 1978.
In the compact class
, Shinjin produced the Opel Kadett C as the Shinjin Maepsy
.
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
.
Founded in 1955, and the same bus manufacturer was "Shinjin Bus Manufacturing Company" is an independent company and is now a part of the Daewoo Motors Bus Division
Daewoo Bus
Daewoo Bus Corporation is a manufacturer of buses. headquartered in Busan, South Korea, established in 2002. These buses are primarily used for public transportation. Daewoo Bus is South Korea's second-largest bus manufacturer, and has been in parnership with GM Daewoo since 2006...
.
History
The Shinjin Industrial Company started as a parts producer in 1954, branching into the automotive field in 1958 as a rebuilder for the U.S. Army, with actual assembly commencing in 1962. Starting in 1963, Shinjin started manufacture of the "Shinsungho", a small limousineLimousine
A limousine is a luxury sedan or saloon car, especially one with a lengthened wheelbase or driven by a chauffeur. The chassis of a limousine may have been extended by the manufacturer or by an independent coachbuilder. These are called "stretch" limousines and are traditionally black or white....
-type passenger car
Automobile
An automobile, autocar, motor car or car is a wheeled motor vehicle used for transporting passengers, which also carries its own engine or motor...
.
The Shinjin Automobile Company division started in 1964, when Shinjin was selected by the Government of South Korea
Government of South Korea
The Government of South Korea is divided into executive, judicial, and legislative branches. The executive and judicial branches operate primarily at the national level, although various ministries in the executive branch also carry out local functions. Local governments are semi-autonomous, and...
as the company delegated to implement its "Automotive Industry Promotion Law" (1962). Under this legislation, the importation of assembled automobiles was outlawed, subsidies were made available to assemblers who were also afforded tariff exemption on the importation of parts. Responsibility for deciding which firms would be authorized to undertake automobile manufacturing was held by the Minister of Trade and Industry, who opted to appoint just one company to maximize economies of scale
Economies of scale
Economies of scale, in microeconomics, refers to the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer’s average cost per unit to fall as the scale of output is increased. "Economies of scale" is a long run concept and refers to reductions in unit...
. The minister initially favored the Sammi Corporation. Preference was shifted to Saenara Motors after the latter made alleged political contributions
Campaign finance
Campaign finance refers to all funds that are raised and spent in order to promote candidates, parties or policies in some sort of electoral contest. In modern democracies such funds are not necessarily devoted to election campaigns. Issue campaigns in referendums, party activities and party...
to the party recently established by the military government
Military government
Military government can refer to conditions under either Military occupation, or Military dictatorship.-Military Government:Military government is the form of administration by which an occupying power exercises governmental authority over occupied territory.The Hague Conventions of 1907 specify...
. Consequently, Saenara signed an agreement with Nissan
Nissan Motors
, usually shortened to Nissan , is a multinational automaker headquartered in Japan. It was a core member of the Nissan Group, but has become more independent after its restructuring under Carlos Ghosn ....
who provided the company with technical assistance and a 35 million loan to assist in the construction of a factory in Bupyeong-gu, Incheon
Bupyeong-gu, Incheon
Bupyeong-gu is one of the 10 administrative divisions that comprise Incheon, South Korea. Bupyeong-gu comprises an area of 12.35 square miles , and has a population of 553,961 ....
where Saenara began assembling Nissan Bluebird
Nissan Bluebird
Although Nissan's own materials indicate that the Bluebird name emerged in 1959, some records show that the name first adorned a 988 cc, four-door sedan in 1957, which was part of the company's 210 series...
kits. Workshops were restructured after encountering difficulties producing the parts required, but by 1963 Saenara could not evade bankruptcy any further. As a result, Shinjin took over Saenara in 1964 and was reassigned as the authorized producer. The selection of the Shinjin bid was again attributed to sizeable contribution to the political party in power. However, according to Odaka (1983), the government's selection appears to have made provision for the technological capability of Shinjin.
Shinsungho models continued until 1966, when Shinjin ventured into the assembly of complete knock down (CKD) automobiles, by which time 318 Shinsungho cars had been produced. These CKD kits were supplied by Mitsubishi
Mitsubishi Motors
is a multinational automaker headquartered in Minato, Tokyo. In 2009 it was the fifth-largest Japan-based automaker and the 17th-largest in the world measured by production...
, and 21 percent local parts content was achieved. However, a year later this arrangement was terminated and a new foreign venture was established with Toyota. This resulted in models such as the Toyota Corona
Toyota Corona
The Toyota Corona is an automobile manufactured by the Japanese automaker Toyota between 1957 and 2002. Traditionally, the competitor from Nissan was the Nissan Bluebird. The word Corona is Latin for "crown"...
being produced. In December 1966, the government decided to terminate the monopoly held by Shinjin by approving a further three companies to commence passenger car production: Asia Motors, Kia
Kia Motors
Kia Motors , headquartered in Seoul, is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 1.4 million vehicles in 2010...
and Hyundai
Hyundai Motor Company
Hyundai Motor Company is a Korean multinational automaker based in Seoul, South Korea which, along with Kia, comprises the Hyundai Kia Automotive Group, the world's fourth largest automaker as of 2009. As of 2011, it is the world's fastest growing automaker for two years running...
. The cessation of this monopoly, in conjunction with technological relationships with foreign corporations, substantially uplifted the total automotive industry output in South Korea to 33,000 units in 1969, up from 7,400 in 1966. However, as production numbers started to decline, the government implemented new measures to promote growth. This included permission for the transfer of Toyota's shares in Shinjin to General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
in 1972. This ownership transfer was necessitated due to Toyota's wish to move into the Chinese market—the People's Republic of China
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...
prohibited companies operating in South Korea and Taiwan
Republic of China
The Republic of China , commonly known as Taiwan , is a unitary sovereign state located in East Asia. Originally based in mainland China, the Republic of China currently governs the island of Taiwan , which forms over 99% of its current territory, as well as Penghu, Kinmen, Matsu and other minor...
from operating in mainland China as well. The new partnership sought with General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
, resulted in the 50-50 General Motors Korea (GMK) joint venture. Due to financial difficulties, Shinjin sold its stake of GMK in November 1976 to the Korea Development Bank
Korea Development Bank
Korea Development Bank is a wholly state-owned policy bank in South Korea It was founded in 1954 in accordance with The Korea Development Bank Act to finance and manage major industrial projects to expedite industrial development and enhance the national economy. As Korea’s representative...
(KBD), and GMK was retitled Saehan Motors. The KBD later sold this equity stake onto the Daewoo Group
Daewoo
Daewoo or the Daewoo Group was a major South Korean chaebol . It was founded on 22 March 1967 as Daewoo Industrial and was dismantled by the Korean government in 1999...
in 1978.
In April 1974, a separate 50-50 alliance was setup between Shinjin and the American Motor Company (AMC), known as Shinjin Jeep Motors. The following month, Shinjin entered into a technical partnership contract with AMC, and in October 1974, production of hard and softtop Jeep
Jeep
Jeep is an automobile marque of Chrysler . The first Willys Jeeps were produced in 1941 with the first civilian models in 1945, making it the oldest off-road vehicle and sport utility vehicle brand. It inspired a number of other light utility vehicles, such as the Land Rover which is the second...
s commenced. In March 1979 AMC relinquished its stake in the firm as it became a domestic corporation and its name was subsequently changed to Shinjin Motors. The corporation was renamed once again in February 1981 to Geohwa Co., which was taken over by Dong-A Motors in December 1984. This acquisition resulted in the "Dong-A" nameplate being applied to all South Korean manufactured Jeeps from 1985. When the SsangYong Group
SsangYong Group
SsangYong Group is a South Korean based Chaebol or conglomerate. SsangYong, literally translated, means "Double Dragon". It was largely broken up by the East Asian financial crisis in 1997...
chaebol
Chaebol
Chaebol refers to a South Korean form of business conglomerate. They are global multinationals owning numerous international enterprises. The term is often used in a context similar to that of the English word "conglomerate"...
purchased Dong-A in September 1986, the firm was subsequently renamed "SsangYong Motor Company
SsangYong Motor Company
SsangYong Motor Company is the fourth largest South Korean automobile manufacturer. The name SsangYong means double dragons.SsangYong was acquired by India's Mahindra & Mahindra Limited in February 2011, after being named the preferred bidder in 2010 to acquire the bankruptcy-protected company...
" in March 1988. At the same time, all "Jeeps" produced by the former Shinjin/Geohwa under the "Dong-A" trademark were re-branded "SsangYong".
Models
The first model of the brand was the Shinjin PublicaToyota Publica
The Toyota Publica was a small car manufactured by the Japanese automaker Toyota from 1961 to 1978. Conceived as a family car to fulfil the requirements of the "national car concept", it was the smallest Toyota car during that period and was superseded in that role by the Toyota Starlet, which...
and was presented early as 1965; in 1966 mass production began. The model is a license of the Toyota Publica
Toyota Publica
The Toyota Publica was a small car manufactured by the Japanese automaker Toyota from 1961 to 1978. Conceived as a family car to fulfil the requirements of the "national car concept", it was the smallest Toyota car during that period and was superseded in that role by the Toyota Starlet, which...
model. The same year also start production of the Shinjin Corona
Toyota Corona
The Toyota Corona is an automobile manufactured by the Japanese automaker Toyota between 1957 and 2002. Traditionally, the competitor from Nissan was the Nissan Bluebird. The word Corona is Latin for "crown"...
, a mid-size sedan with a 44 PS engine. In the same class, Shinjin also produced the Fiat 124
Fiat 124
The Fiat 124 is a mid-sized family car produced by the Italian manufacturer Fiat between 1966 and 1974. It was the replacement of the Fiat 1300 and Fiat 1500...
. in 1967, the manufacturer established its first luxury car, the Shinjin Crown
Toyota Crown
The Toyota Crown is a line of full-size luxury sedans by Toyota. The range was primarily available in Japan and some other Asian countries, originally designed to serve as a taxi...
, which was again adjusted however one year later. In 1971 Shinjin released the Shinjin New Crown
Toyota Crown
The Toyota Crown is a line of full-size luxury sedans by Toyota. The range was primarily available in Japan and some other Asian countries, originally designed to serve as a taxi...
in a second attempt to enter this luxury segment. But this was again unsuccessful.
From now on, Shinjin began assembly of vehicles and engines form the German
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
subsidiary of GM, Opel
Opel
Adam Opel AG, generally shortened to Opel, is a German automobile company founded by Adam Opel in 1862. Opel has been building automobiles since 1899, and became an Aktiengesellschaft in 1929...
. These Opel models were popular in South Korea. In 1972, the Shinjin Record
Daewoo Royale
The Daewoo Royale is a series of mid-size cars that was produced by Daewoo Motors in South Korea from 1983, being replaced by the Daewoo Prince in 1991, although production of the top-line Daewoo Imperial continued until 1993...
was released in two separated model versions, 1900 (based on the Rekord D
Opel Rekord
The Opel Rekord was a large family car/executive car which was built in several generations by the German car manufacturer Opel.-Naming:The Rekord name evolved into the main name of the model; at first the name was used in close relationship with the Opel Olympia name, which pre-dated the Rekord...
) and the Royale (based on the Commodore B
Opel Commodore
The Opel Commodore is an executive car produced by Opel. It is the six-cylinder variant of the Rekord with styling differences. The Commodore nameplate was used by Opel from 1967 to 1982. However, its lineage continues with the Australian Holden Commodore...
). Production of both sedans ended in 1978.
In the compact class
Compact car
A compact car , or small family car , is a classification of cars which are larger than a supermini but smaller than or equal to a mid-size car...
, Shinjin produced the Opel Kadett C as the Shinjin Maepsy
Daewoo Maepsy
The Daewoo Maepsy is a compact car that was manufactured by Daewoo Motor in South Korea from 1973 to 1989. The Maepsy was a badge engineered version of the Opel Kadett C, or to be more precise, of the PF50 Isuzu Gemini...
.