S. Korea’s car exports hit record $37b in H1 ’24

South Korea’s car exports surged to a record high in the first half of 2024, reaching an estimated $37.01 billion, according to industry data reported by Yonhap News Agency on Sunday.

The latest figure represents a 3.8 per cent increase year-on-year compared to the same period in 2023. The previous record for the first half of a year was set in 2023 at $35.65 billion, fueled by a significant 46.5 per cent year-on-year growth.

This achievement marks the fourth consecutive year of positive year-on-year growth in car exports for the first half of the year, highlighting the continued strength of South Korea’s automotive industry.

Attribution: WAM