Mass-market and high-end foreign cars are simultaneously gaining ground in South Korea, industry data showed Wednesday, as foreign carmakers introduced moderately priced compact cars.

Foreign carmakers have been offering compact cars that sell for less than 30 million won ($27,000) in recent years, in an apparent bid to lure price-conscious consumers in their 20s and 30s.

Volkswagen Korea, the local importer of Germany‘s Volkswagen Group, has introduced the Polo hatchback that has a price tag set around 24 million won. The German carmaker also introduced its Golf compact vehicle here which sells for 29 million won.

Foreign cars with an engine capacity of less than 2,000cc accounted for 52.5 percent or 46,944 units of all imported cars sold in the first seven months of this year, compared with 26.4 percent or 10,537 units from the same period in 2008, according to the Korea Automobile Importers and Distributors Association.

Local importers of foreign brands also sold 29,790 cars with 2,000cc-3,000cc engines between January and July, compared with 14,391 units from the same period in 2008, according to the association.

The figures showed a drastic rise of mass-market foreign cars in a country where foreign-made cars have long been reserved for rich, middle-aged businessmen.

High-end foreign cars also enjoyed steady popularity in South Korea as some consumers tried to differentiate themselves by buying luxury sedans that sell for more than 100 million won.

Jaguar Korea has sold all 30 units of its F-type model, a two-seat convertible sports car that sells between 140 million won and 160 million won. It said it plans to introduce 50 more units to meet the demand in South Korea.

The development helped push sales of imported vehicles in South Korea to an all-time high in July.

A total of 14,953 units of foreign-brand cars were sold in July, up 39 percent from a year earlier, according to data compiled by the Korea Automobile Importers and Distributors Association.

The July figure is also up 17 percent from the previous month, and topped the previous record high of 13,411 posted in May last year, the association said. (Yonhap News)