Korea’s car exports estimated at record $37 bn in H1

SEOUL: Republic of Korea's car exports are estimated to have reached a record $37 billion for the first half of the year, according to industry data Sunday, Yonhap News Agency reported. Automobile exports are estimated to have increased 3.8 percent on-year during the January-June period to reach $37.01 billion, marking the highest tally for the first half of any year, according to tentative data from the industry ministry and the Korea International Trade Association. The previous record was at $35.65 billion last year, boosted by 46.5 percent on-year growth from 2022. Since 2021, car exports have seen positive year-on-year growth for four consecutive years in the first half. Source: Emirates News Agency