The value of built-up vehicles exported from South Korea fell by 10.5% to US$ 6.5 billion in October 2025, down from US$ 6.2 billion a year earlier, according to data released by the Ministry of Trade, Industry and Energy.
The Ministry blamed the decline on fewer working days during the month due to the annual Chuseok (harvest) holidays, which fell in September last year, following a 17% surge last month. This also impacted vehicle output in the country, which fell by almost 18% to 302,893 units.
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Exports to the US plunged by 29% to US$ 2.12 billion last month, following the imposition of a 25% import tariff by the US earlier this year. The sharp decline also reflects the ramp-up of production this year at Hyundai’s new assembly plant in Savannah, in the US state of Georgia.
Exports to Europe fell by 2.1% to US$ 746 million in October, while shipments to the Middle East were down by 13.5% at US$ 403 million. By contrast, exports to Asia surged by 42% to US$ 802 million and Latin America to US$ 290 million (+24%).
Overall exports of electric and hybrid vehicles rose by 1% year-on-year to 64,427 last month, valued at US 2 billion.
In the first ten months of 2025, the value of new vehicles exported from South Korea reached an all-time high of US$ 59.6 billion.
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By GlobalData
