The unprecedented crackdown by the Fair Trade Commission on imported cars is in full swing, and those close to the matter predict the end may soon be near as carmakers are said to be seeking to make amends.

However, there are several things to be gained from this, and it may actually prove to have been in the interest of the imported car sector over the longer term.

At the same time, Hyundai-Kia, the dominant domestic carmaker, may have more to fear than meets the eye. 

The actions from the commission reflect the government’s determination to act on the behalf of the consumers, who still tend to harbor suspicion and resentment toward imported cars.

“The crackdown will undoubtedly further push down the prices of imported vehicles as well as after-sales service prices, to make them a more comfortable fit for the Korean public in general,” said one industry member who declined to be identified.

Others joked that the sector has now officially become a victim, meaning that it can now expect more sympathy from Koreans who find it easier to commiserate than rejoice.

Price ― concerning both selling and after-sales services ― is the biggest bone of contention for foreign-brand cars being sold here.

Part of the reason is because in many cases, their prices tend to be higher in Korea than in other markets, such as Europe or the U.S..

For some of the luxury models, their sticker prices in Korea are at times up to double the import price. Compared with the U.S., cars usually cost up to at least 10 million won more in Korea.

The crackdown will give the imported brands an opportunity to cut their prices to more acceptable levels. Or more accurately, it will be a wakeup call for the headquarters, which are known to put heftier price tags on cars being imported to Korea.

The government, meanwhile, must play its part and slash the tariffs to make the imported vehicles more affordable. It’s not the Joseon era anymore, and it’s high time that Korea opened its doors ― taxwise ― because otherwise, it’s the public that will be shortchanged.

After-sales service costs, another area vulnerable to criticism, can also be addressed during the commission’s investigation, and as of last year, European carmakers were seen to have cut their repair costs by up to 20 percent.

It may not be much to some, but it’s a start.

All this means is Hyundai-Kia will have to brace itself for renewed competition from foreign carmakers, because once they have paid their dues, they are most likely to come back with a vengeance ― this time in a more consumer-friendly package.

While there are many “patriotic” consumers who stick with homegrown brands, once the prices become more reasonable for imported cars, who can say what will happen?

The crackdown is a chance for the imported carmakers to become a full-fledged members of Korean society, a move that will force local manufacturers to step up their game against the returning new kids on the block.

By Kim Ji-hyun (jemmie@heraldcorp.com)