This photo shows a Mercedes-Benz dealership center in Seoul. (Image courtesy of Yonhap)
SEOUL, March 26 (Korea Bizwire) — The number of imported vehicles registered in South Korea has exceeded 3.5 million for the first time, marking a significant milestone in the nation’s evolving automotive landscape.
According to data released Wednesday by the Korea Automobile Importers & Distributors Association (KAIDA), a total of 3,508,876 imported vehicles were registered as of the end of 2024. This accounts for 13.3 percent of the country’s total registered vehicles, which now number just over 26.3 million.
The figure represents an increase of more than 2 million imported vehicles over the past decade, with market share rising by 7.9 percentage points since 2014.
This photo provided by BMW Korea shows the company’s revamped 5 Series model. (Yonhap)
Among passenger car brands, Mercedes-Benz leads the market with 802,494 vehicles (22.9 percent), followed by BMW with 720,472 (20.5 percent). Audi, Volkswagen, and Lexus round out the top five, with respective market shares of 6.6 percent, 6.1 percent, and 4.1 percent.
Volvo, Mini, Toyota, Ford, and Tesla also hold notable shares, each comprising between 2.7 and 3.5 percent of total imported car registrations.
Gyeonggi Province holds the largest concentration of imported vehicles, accounting for 26.8 percent (939,163 units), followed by Seoul (19.5 percent), Incheon (8.8 percent), Busan (8.3 percent), and South Gyeongsang Province (6.2 percent).
In terms of vehicle age, 41.8 percent of imports are under five years old, while 38 percent fall within the 5 to 10-year range. Only 15.6 percent are between 10 and 15 years old, indicating a relatively young fleet.
“Over the past 30 years, imported cars have broadened consumer choice and contributed meaningfully to the development of Korea’s automotive market,” said KAIDA Vice Chairman Jung Yoon-young. “We will continue to provide reliable statistics and market insights to support this growing sector.”
As South Korea heads into 2026, the imported car market shows no signs of slowing, reflecting both rising consumer demand and the growing presence of global auto brands in the region.
Kevin Lee (kevinlee@koreabizwire.com)
