Auto Imports in South Korea Increased This Year

Auto Imports in South Korea Increased This Year

South Korean state customs office said in a statement that the country saw a massive increase in imports of cars this year.

The auto imports in the country rose by nearly half in the first 11 months of this year from a year ago.

In addition, foreign car makers are increasingly becoming a major player in the country’s domestic auto market.

In the first 11 months of this year, South Koreans bought a total of US$1.9 billion worth of cars from foreign countries. This is up 52.1 percent from a year earlier. As many as 64,758 cars were imported.

The demand for such cars is increasing as the people in the upper class of the society want a diverse choice in getting their vehicles.

The country also managed to sell $29.5 billion worth of cars overseas. They dominated both USA and Russia in this field.