South Korea’s auto exports rose 58% in May

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Posted on: Sunday, June 13, 2021 – 9:14 am | Last update: Sunday, June 13, 2021 – 9:14 am

South Korean auto exports jumped nearly 58 percent in May on the back of strong demand for eco-friendly cars and SUVs, government data showed Sunday.

The Ministry of Trade, Industry and Energy of South Korea stated that car exports amounted to 150,894 units in May, and in value terms, exports nearly doubled and reached 3.49 billion dollars.

The ministry attributed the growth to the strong performance of electric vehicles, along with Hyundai Motor Company’s independent Genesis brand.

Exports to North America jumped by 70.1 percent to reach $1.42 billion, and exports to the European Union increased by 84 percent to $664 million. Domestic production of cars reached 256,272 units per month, an increase of 10.9% year on year.







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