Pyeonghwa Motors
Pyeonghwa Motors (Hangul : 평화자동차) (Hancha : 平和自動車), a Korean language word for "peace", also spelled Pyonghwa, is one of the two car manufacturers and dealers in the North Korean automotive industry, alongside Sungri Motor Plant. Until 2013, it was a joint venture in Nampo between Pyonghwa Motors of Seoul (South Korea), a company owned by Sun Myung Moon's Unification Church, and the North Korean Ryonbong General Corp. The joint venture produced small cars under licence from Fiat and Brilliance China Auto, a pickup truck and an SUV using complete knock down kits from Chinese manufacturer Dandong Shuguang, and a luxury car of SsangYong design. From 2013, the company has been fully owned by the North Korean state.
| Company type | State-owned company |
|---|---|
| Industry | Manufacturing |
| Founded | 1998 |
| Headquarters | Pyongyang , North Korea |
Area served | North Korea, Vietnam |
Key people | Park Sang-Kwon, CEO and Chairman |
| Products | Automobiles |
| Owner | Ryonbong Unification Church |
Pyeonghwa has the exclusive rights to car production, purchase, and sale of used cars in North Korea. However, most North Koreans are unable to afford a car. Because of the very small market for cars in the country, Pyeonghwa's output is reportedly very low: in 2003, only 314 cars were produced even though the factory had the facilities to produce up to 10,000 cars a year.
Erik van Ingen Schenau, author of the book Automobiles Made in North Korea, has estimated the company's total production in 2005 at not more than around 400 units.