South Korea's car exports increase by 3.8 percent

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South Korea's car exports increase by 3.8 percent

[07/07/2024 07:30]

SEOUL-SABA
South Korean car exports rise 3.8% year-on-year to $37 billion in first half of this year by the virtue of increasing its exports to the United States.

According to a statement from the Ministry of Trade, Industry and Energy and the Korea International Trade Association, the increase is primarily due to continued growth in exports of high value-added eco-friendly cars, including electric and hybrid vehicles, to North America and Europe.

This figure represents the highest ever level for the first half of any year, after car exports recorded a record $35.65 billion in the first half of last year, surpassing the previous record of $25.23 billion in the same period of 2014, said the ministry.