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Data released by South Korea's Ministry of Trade, Industry, and Energy reveals that the nation's automobile export value plummeted 19.6% year-on-year to $4.99 billion in January 2023. This decline is attributed to a reduction of four working days due to the Spring Festival holiday, coupled with the high base effect stemming from the record-high export value achieved in January 2022. Concurrently, the number of exported automobiles also decreased by 17.9%, totaling 199,663 units. Breaking down the figures by brand, Hyundai's exports fell by 15.3% to 85,241 units, Kia's exports declined by 17.9% to 76,864 units, and GM Korea's exports dropped by 29.3% to 30,392 units. Conversely, KG Mobility witnessed a 5% increase in exports, reaching 5,680 units, while Renault Korea experienced a remarkable surge of 438.1%, exporting 1,216 units.
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