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Biz News Korea(Eng)
Kolao Holdings launches truck brand with Pakistan’s Dewan
- Collected
- 2018.02.28
- Distributed
- 2018.03.02
- Source
- Go Direct
![[Photo provided by Kolao Holdings]](http://file.mk.co.kr/meet/neds/2018/02/image_readtop_2018_136396_15197984073222362.jpg)
[Photo provided by Kolao Holdings]
The company said Tuesday it unveiled the 1-ton truck Daehan Shehzore at a ceremony in Karachi, the economic capital of Pakistan. It is the first product to be launched by Daehan Dewan Motor Company (DDMC), a 50/50 joint venture between Kolao and Pakistani conglomerate Yousuf Dewan Companies.
The pickup would be an upgrade of Dewan’s Shehzore, a popular truck brand in Pakistan that has sold 50,000 units since its release.
DDMC plans to bolster its lineup, with a 0.8-ton mini truck and 2.5-ton pickup to be released within the year.
Kolao Holdings was founded in 1997 by a Korean national but built up its foundation in Laos, as indicated in its name, a combination of Korea and Laos. It relocated its headquarters to Vietnam in December as part of efforts to take its operations global. “We chose Pakistan as our new target market as it serves as a strategic entry point into Middle East and Africa,” said a company official.
Founded in 1912, Dewan is one of the largest conglomerates in Pakistan whose businesses range from automotives and cement to textile and trade. It is the local dealer of major automakers including BMW and Mitsubishi.
By Kim Jung-hwan and Kim Hyo-jin
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