This file photo, taken April 1, 2021, shows cars produced by Hyundai Motor Co. to be shipped for export on a dock in Ulsan, 414 kilometers southeast of Seoul. (Yonhap)
SEOUL, July 15 (Korea Bizwire) — South Korea’s exports of automobiles advanced 28 percent in the first half of 2021 on the back of the global economic recovery and rising demand for premium models, data showed Thursday.
Outbound shipments of automobiles reached 1,049,658 units in the January-June period, rising from 820,873 units tallied a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.
In terms of value, exports also shot up 50 percent to hit US$23.6 billion.
It marked the first time for the number of cars shipped to post two-digit growth since the first half of 2012.
The ministry attributed the sharp growth to the strong overseas sales of hybrid cars and electric vehicles, whose exports advanced 63.3 percent and 13.9 percent over the period, respectively.
By destination, exports to North America moved up 40 percent to $10.7 billion, with those to the European Union also increasing 56.3 percent to $4.1 billion.
In June alone, South Korea’s auto exports also gained 38.1 percent to hit 174,964 units, the data showed. The growth is a reversal from the 40 percent on-year drop posted in June 2020 amid the COVID-19 pandemic.
By company, exports by Hyundai Motor, the top player, saw its exports jump 33 percent to reach 74,769 units last month.
Hyundai’s smaller sister Kia Corp. saw its exports gain 28.1 percent to 67,601 on the back of strong shipments of electric vehicles.
Outbound shipments of GM Korea Co. added 27.3 percent to 21,152 units, followed by the robust performance of the Trailblazer SUV.
Financially troubled carmaker SsangYong Motor Co.’s exports grew sixfold to 2,750 units as it gradually normalized its shipments.
Exports by Renault Samsung Motors Corp. came to 8,556 units on strong sales of the XM3 SUV in the European market, soaring from just around 600 units sold last year.
(Yonhap)
