According to data released by South Korea's Ministry of Trade, Industry and Energy on Wednesday, the nation witnessed a 20.8% year-on-year decrease in car exports during February, with the total value reaching USD 4.8 billion. This downturn was primarily attributed to the reduced number of working days in the month, a consequence of the Lunar New Year holiday. Notably, while hybrid vehicle exports experienced a 23.5% surge, the overall exports of battery electric and hydrogen fuel cell vehicles saw an 8.2% decline.
