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South Korea's Car Export Value Plunges 10.5% Year-on-Year in October; Exports to U.S. Tumble 29%
3 day ago /
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Author：小编
According to data released by South Korea's Ministry of Trade, Industry and Energy, the country's total automobile export value in October was impacted by the shortened working days caused by the Chuseok holiday (a major traditional Korean harvest festival, similar to Thanksgiving in the U.S., during which many businesses and factories close). As a result, the export value amounted to US$5.5 billion, marking a 10.5% decline year-on-year from the US$6.2 billion recorded in the same month last year. Despite this monthly downturn, South Korea's cumulative automobile export value for the first 10 months of this year still soared to a record US$59.6 billion, the highest ever for this period in history.
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