This photo, taken on Nov. 5, 2020, shows cars produced by Hyundai Motor Co. to be shipped for export on a dock in Ulsan, 414 kilometers southeast of Seoul. (Yonhap)
SEOUL, Feb. 15 (Korea Bizwire) — South Korea’s auto exports jumped 29.5 percent on year in January, as global demand showed signs of modest recovery from the coronavirus pandemic, data showed Monday.
The nation’s auto production and domestic sales rose 24.9 percent and 18.4 percent on year in January, respectively, according to the data from the Ministry of Trade, Industry and Energy.
It was the first time since September last year that auto exports, output and domestic sales all gained.
By region, exports to North America jumped 40.2 percent on year last month and exports to the European Union surged 71.7 percent on year over the cited period, the data showed.
In terms of value, auto exports stood at US$4 billion in January, up 40.2 percent on year.
It marked the sharpest monthly growth since September 2017, according to the data.
Domestic sales of eco-friendly cars surged 126.4 percent on year to 17,992 units, marking the 12th consecutive month of growth.
Exports of eco-friendly cars jumped 76.5 percent to 32,035 units in January. In terms of value, exports of eco-friendly cars stood at $900 million last month.
(Yonhap)
