The original price tags were a bit higher than their competitors, Hyundai Motor Co.'s Avante and Kia Motors Corp.'s K3.

GM Korea had a record year in 2016 helped by the All New Malibu midsize sedan launched in May, with its local market share reaching more than 10 percent for the first time in nearly a decade.

"We've decided to lower the price tags by up to 2 million won as we are trying to listen to what the customers are saying," a GM official said. "We expect the All New Cruze will generate a sensation in South Korea just like the case in the United States."

GM sold 35,316 All New Cruze cars in the USfor the first two months this year, becoming the third biggest selling compact car only after Honda Motor Co.'s Civic with 50,134 and Toyota's Corolla with 45,520. Hyundai Motor's Avante, sold as the Elantra in the US, came fifth with 29,139.