Samsung goes after Renault brand name

Featured - June 21st, 2012
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Samsung Group wants to take their brand name out of automotive company Renault Samsung Motors, The Korea Herald reports.

Renault is using the name “Samsung” under a license agreement with stakeholder Samsung Card, the financial arm of the Korean company. Both Samsung and Renault renewed their brand contract to use the name until 2020. Presently, Renault has the management right and settles loyalty payments to Samsung.

Renault, however, claimed that it would not make immediate changes as its operations in Korean markets has been successful, possibly brought by using the brand name “Samsung”.

The France-based company has been manufacturing sedan cars for Korean demand under the name “Samsung Motors” since 1998 after it took over Samsung’s automotive arm. Samsung Card holds 19.9% in stakes.