Record high of US$72 billion for South Korean auto exports

Government data released Thursday showed that South Korean auto exports reached an unprecedented record level of 72 billion US dollars last year, thanks to strong overseas demand for environmentally friendly cars and used cars.

This figure represents a 1.7% increase over 2024 exports of US$70.8 billion, and a 1.55% increase over the previous record of US$70.9 billion recorded in 2023, according to the Ministry of Trade, Industry and Resources.

This is also the third year in a row that South Korea’s annual auto exports exceeded US$70 billion.

The ministry reported, as reported by Yonhap News Agency, that the local automobile industry faced unfavorable export conditions last year, especially with US customs procedures, but it achieved this achievement thanks to the growing demand for Korean environmentally friendly cars and used cars.