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GfK Adds to Asian Auto Coverage; Moves US Staff
GfK Asia is expanding its automotive coverage in five key regions of Korea. Subsidiary firm GfK Korea will start tracking the market for tyres and is planning to add engine oil and other spare automotive parts in future. Separately, GfK is to consolidate two of its Manhattan offices.
The five regions are Seoul, Inchon, Kyunggi, Kyungbuk and Kyungnam. GfK Korea works closely with Carpos, the country's local Car Mechanic Industry Association, set up in 1999.
The GfK Group, which has tracked the sector in Europe since the 1980s, plans to add to existing tracking services in China and Korea with launches in Malaysia, Indonesia, Vietnam and Thailand for tyre and other automotive parts measurements.
Stanley Kee, GfK Asia Commercial Director, says that despite the downturn the launch is seen as 'timely and a long term investment.' He explains: 'Although the industry is facing a difficult period, we anticipate consolidation and changes which will bring about new growth opportunities alongside global economic recovery. In North Asia, Korea is an important market as car makers like Hyundai, Kia; and Tire makers like Hankook, Kumho and Nexen expand and gain recognition globally.'
GfK Asia's tracking services cover more than 55 product groups and over 350,000 models, collecting monthly data from over 6,000 specialist / independent shops and 170 organized retailers with approximately 15,000 outlets. Based in Singapore, it has offices in India and Japan. GfK Retail & Technology has its own domain / home page at www.gfkrt.com .
Meanwhile in the US, GfK is to consolidate two of its three offices in Manhattan, subletting a 20,000 sg ft building at 401 Park Avenue South. Leases at the West 16th Street and 475 Park Avenue South locations - both added as a result of mergers and acquisitions - were about to expire, according to VP of Marketing and Communications Elizabeth Nolley, who adds that the longer-term goal is to get all employees under one roof.
80 employees will relocate to the new location on May 1, while 220 others will remain in the firm's Chelsea Market office.
Group web site: www.gfk.com .
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