The Korea Herald

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[Graphic News] Auto exports hit record high in February

By Nam Kyung-don

Published : March 29, 2023 - 08:01

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South Korea’s car exports jumped nearly 50 percent in February on-year to reach an all-time high on the back of solid demand for eco-friendly cars.

The value of outbound shipments of automobiles came to $5.59 billion last month, up 47.1 percent from a year earlier, according to the data from the Ministry of Trade, Industry and Energy.

It is the highest monthly figure, with the previous record being set in December last year when exports stood at $5.42 billion.

In terms of volume, exports surged 34.8 percent on-year to 222,934 vehicles, the data showed.

By region, car exports to North America surged 65.7 percent to $2.74 billion, and those to the European Union rose 35.3 percent to $855 million. (Yonhap)