Last year, car exports from South Korea exceeded a value of US$50 billion, which is the highest ever export value.
Despite the Russia-Ukraine war and shortage of chips for auot applications, exports of eco-friendly vehicles such as electric and hybrid cars increased significantly.
Exports of ‘green’ cars with higher export prices increased considerably. The average export price of internal combustion engine vehicles is about $20,000 and that of ‘green’ cars is about $30,000. The number of exports (2.31 million units) increased by 13.3 percent, driving the export growth.