The value of built-up vehicles exported from South Korea rose by 1.2% year-on-year to US$6.24 billion in March 2025, with higher shipments to other Asian countries offsetting declining exports to the US – ahead of the introduction of new import tariffs in that country, according to data released by the Ministry of Trade, Industry and Energy.
By region, exports to North America fell by 8.4% last month to US$3.27 billion, due mainly to an 11% drop in shipments to the US to US$2.78 billion, while exports to the EU fell by 3% to US$780 million. By contrast, exports to other countries in Asia surged by 63% to US$660 million, while exports to the Middle East rose by 21% to US$490 million.
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In terms of volumes, overall outbound shipments of vehicles from South Korea fell by 2.4% to 240,874 units, including 41,969 hybrid models and 20,757 battery electric vehicles (BEVs). Hyundai-Kia is South Korea’s largest exporter, followed by GM Korea. Vehicle sales in South Korea, including imports, rose by 2.4% to 149,512 units in March, while domestic production increased by 1.5% to 370,836 units.
In response to the US import tariff hikes, a Ministry spokesperson confirmed: “The South Korean government is implementing support measures for the auto industry and will respond flexibly while closely monitoring the situation in the industry and the progress of tariff negotiations with the US.”
Last week the government announced it would provide KRW2 trillion (US$1.35 billion) in additional liquidity for the automotive sector, in addition to the previously announced KRW13 trillion in policy financing.
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