[KH explains] Why Korea has been so quick to adopt ‘global minimum tax’
Teenage boy confesses to mistakenly stealing bike to take care of siblings
Broadcaster warned after omitting honorific for first lady
Yoon says 2,000 increase in med school quota non-negotiable
Teachers and native English instructors now required to undergo drug testing
US auto brands rank No. 2 in imported car sales in S. Korea in 2020: dataBy Yonhap
Published : June 27, 2021 - 16:33
A total of 46,000 cars from US automakers were sold in South Korea last year, accounting for 15.2 percent of the overall imported car sales, according to data by the Korean Automobile Manufacturers Association (KAMA).
German brands topped the ranking with 187,000 units for a 61.7 percent market share, while Japanese makers slipped to the third spot after their sales reached only 21,000 units for a 7 percent share.
Sales of Japanese cars have declined for two consecutive years in South Korea since Tokyo placed export curbs on Seoul in 2019, while the prolonged wartime forced labor and sexual slavery issues also frayed bilateral relationship between the two nations.
In contrast, sales of US vehicles have been increasing since 2017, benefiting from the US-South Korea free tree trade agreement.
The data showed South Korea became the ninth-largest auto market for the US in 2020 after Americans shipped 67,000 vehicles, or 2.8 percent of its total auto exports, to Seoul.
KAMA said the market share of South Korean brands in the US auto market is also expanding, with the combined market share of Hyundai Motor Co. and Kia Corp. reaching 8.5 percent in 2020, which is close to their largest market share of 8.9 percent in 2011.
Hyundai and Kia combined for a 9.4 percent market share in the US in the first five months of 2021.
GM Korea Co.'s increased auto exports have also helped expand the presence of South Korean-made vehicles in the US
The South Korean unit of General Motors Co. last year shipped 233,000 units to the US Of the 227,000 small SUVs sold in the US, 80.2 percent, or 182,000 units, were produced by GM Korea, according to KAMA. (Yonhap)
Why Korea has been so quick to adopt ‘global minimum tax’
Russia sending NK food in return for arms: Seoul defense chief
Legality issues linger as nurses fill treatment void Tuesday