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2026-02-19 13:17:58
[South Korea's January car exports hit second-highest level on record, with eco-friendly models leading the way] (1) Data released by the South Korean government on Thursday showed that the country's car exports continued their strong momentum in January, with exports increasing by 21.7% year-on-year to US$6.07 billion, the second-highest level for the same period on record. (2) According to data from the South Korean Ministry of Trade, Industry and Resources, the surge in exports was mainly due to strong demand for eco-friendly models and the increase in the number of working days in January. Among them, hybrid vehicles performed particularly well, with exports surging by 85.5% and contributing US$1.71 billion in exports; electric vehicle (EV) exports also increased by 21.2% year-on-year to US$780 million. (3) In terms of major export destinations, exports to the United States increased by 19.2% year-on-year to US$2.66 billion; exports to the European Union increased even more, by 34.4% to US$871 million. However, South Korea's car exports to Asia declined significantly, decreasing by 30.1% year-on-year to US$325 million.
