Seoul
South Korea’s automobile exports surged by 5.5% in October, reaching a new all-time high, according to data released by the Ministry of Trade, Industry, and Energy on Thursday. The record-breaking performance was driven by growing global demand for eco-friendly vehicles, particularly hybrid models.
In total, vehicle shipments from South Korea amounted to $6.2 billion last month, marking the highest-ever value for an October. The number of cars exported increased by 8.1% year-on-year, totaling 243,367 units. Shipments of hybrid cars, in particular, saw a remarkable 80.3% rise, reaching $1.1 billion and surpassing the previous record set in August.
The overall production of cars also grew, with 367,624 units manufactured in October, up 7.8% from the previous year, fueled by the release of new models like the Kia EV3 electric SUV and the updated K8 sedan. Domestic car sales also rose by 3.1% to 145,756 units, marking the first year-on-year increase since November 2023.
The ministry has emphasized its efforts to support the industry amid global uncertainties, while promoting local sales through the Korea Sale Festa, South Korea’s version of Black Friday, which runs until the end of the month.
In related news, Kia Motors has signed a tentative agreement with DHL Korea Ltd. to supply its PV5 electric cargo vehicles starting in 2026, aiming to boost the adoption of eco-friendly vehicles in the logistics sector.
