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South Korea’s used car exports hit a record $5.5 billion in August, driven by global demand and a weaker won, offsetting declines in new car sales.
South Korea’s used car exports from Incheon Port are surging, reaching a record $5.5 billion in August—the highest monthly total ever—with used vehicle shipments up 35% to $711 million.
The growth, driven by strong demand in Russia, Central Asia, and the Middle East, is helping offset declines in new car exports to the U.S., which have dropped for six straight months due to a 25% tariff.
Hyundai and Kia right-hand-drive models are favored abroad, and a weaker Korean won has boosted competitiveness.
Despite poor infrastructure at export sites, including muddy lots and temporary facilities, exports are on track for record levels this year.
The sector is now a key export driver for small and medium-sized businesses, prompting calls for government reforms to improve regulation and build dedicated export facilities.
Las exportaciones de automóviles usados de Corea del Sur alcanzaron un récord de $ 5.5 mil millones en agosto, impulsadas por la demanda global y un won más débil, compensando las caídas en las ventas de automóviles nuevos.