How Did S. Korea’s Auto Exports Perform in November?
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Synopsis
In November, South Korea's automobile exports surged by 13.7%, driven by eco-friendly and hybrid vehicles. With a total export value of $6.4 billion, this marks a significant recovery from last year's shipping disruptions. Could this trend signal a new era for the country's automotive industry? Read on to find out more.
Key Takeaways
- South Korea's auto exports rose by 13.7% in November.
- Eco-friendly car exports increased by 23.4%.
- Total export value reached $6.4 billion.
- Exports to the U.S. grew by 5.1%.
- Overall exports exceeded $61 billion.
Seoul, Dec 21 (NationPress) South Korea's automobile exports experienced a remarkable increase of 13.7 percent in November compared to the same month last year, according to data released on Sunday. The surge was largely fueled by strong sales of eco-friendly and hybrid vehicles.
The total value of car exports reached $6.4 billion in November, benefiting from base effects after a significant decline in outbound shipments last year due to shipping disruptions caused by snow, as reported by the Ministry of Trade, Industry and Resources.
Notably, exports of eco-friendly cars soared 23.4 percent to 78,436 units, marking the 11th consecutive month of year-on-year growth, according to Yonhap news agency.
Within the eco-friendly category, hybrid vehicle exports surged by 40 percent to 54,296 units in November.
Regionally, exports to the United States experienced a 5.1 percent increase year-on-year, amounting to $2.69 billion, breaking an eight-month streak of declines influenced by new tariff policies from Washington.
Seoul and Washington have reached an agreement to reduce tariffs on vehicles from 25 percent to 15 percent, which was implemented in April.
Exports to the European Union rose by 3.4 percent to $820 million, while shipments to Asian nations climbed 32.1 percent to $730 million, according to the data.
In a broader context, South Korea's overall exports grew by 8.4 percent year-on-year in November, exceeding $61 billion, marking the sixth consecutive month of growth, driven by strong demand for semiconductors.
Outbound shipments totaled $61.04 billion last month, the highest figure recorded for any November, according to data compiled by the Ministry of Trade, Industry and Resources, as reported by Yonhap news agency.
Meanwhile, imports rose by 1.2 percent year-on-year to $51.3 billion, leading to a trade surplus of $9.73 billion.
For the January-November period, accumulated exports reached a record high of $640.2 billion, raising expectations that annual exports may surpass the $700 billion threshold for the first time in history this year.
Point of View
I believe this surge in South Korea's automobile exports reflects a significant shift towards eco-friendly technology. It showcases the nation's resilience and adaptability in the global market, especially in light of recent challenges. This trend not only bodes well for the automotive sector but also aligns with global sustainability efforts.
NationPress
22/12/2025
Frequently Asked Questions
What contributed to the rise in South Korea's auto exports?
The rise in South Korea's auto exports is primarily driven by robust shipments of eco-friendly and hybrid models, reflecting a growing global demand for sustainable vehicles.
How much did eco-friendly car exports increase?
Exports of eco-friendly cars increased by 23.4 percent to 78,436 units in November, marking 11 consecutive months of year-on-year gains.
What are the export figures for the United States?
Exports to the United States rose by 5.1 percent year-on-year in November to $2.69 billion, breaking an eight-month streak of declines.
