The value of vehicles exported from South Korea declined by 5.5% to US$ 6.17 billion in April 2026, according to data released by the country’s Ministry of Trade, Industry and Energy, reflecting a sharp decline in shipments to the Middle East due to the conflict between the US and Iran.

Exports to North America to rose by 2.4%, while the value of shipments to Latin America surged by almost 24%, and the export value to markets in Oceania rose by 20%. By contrast, exports to the Middle East plunged by almost 39%, while shipments to the European Union declined by 13%, and exports to markets in Asia plunged by 32%.

Exports of eco-friendly vehicles, including hybrid-electric and battery-electric vehicles, rose by 13.5% to US$2.52 billion in April.

The Ministry also reported that vehicle sales in South Korea, including domestically-made and imported vehicles, rose by less than 1% to 152,000 units, while vehicle production in the country declined by 6.1% to 362,000 units, due in part to supply chain disruptions affecting some component suppliers and as buyers waited for the arrival of new and facelifted models.