Sere took over the existing Daewoo outlet in the city at the start of the month and will also add the franchise to its new car superstore business at Dundonald.
Stanley Edgar, Sere Motor Group managing director, said: "Daewoo has been extremely successful in Northern Ireland, achieving in excess of 1% of the market from its single Belfast site.
"We envisage, with a 100% increase in representation, Daewoo should quickly achieve a 2% market share. Sere has made a substantial capital commitment in the new franchise which underlines our confidence in the product and its long-term potential."
Daewoo is in discussions with other suitable partners for the rest of the country.
SK Kim, Daewoo Cars managing director, said: "We have a busy few months ahead of us as we recruit more retailers.
"As well as the ongoing retailer recruitment, we will be launching the Rexton, our new 4x4 in the summer and there is the takeover deal with General Motors to look forward to. That should take place in a matter of weeks."