South Korean vehicle production increased by 12.3% year on year to 433,799 units in April, driven by strong domestic and overseas demand - according to the Ministry of Trade and Industry.

Sales of domestically-produced vehicles increased by 10.2% to 131,053 units while exports jumped by 14% to 433,799 units despite the recent appreciation of the Korean won - reflecting strong demand from the US and China.

Sales of imported vehicles in South Korea increased by 25.5% to 16,712 units with foreign brands increasingly popular among wealthy buyers.