Seoul: South Korean car exports are projected to decline in 2025 for the first time in five years, following years of growth, due to increased overseas production and US tariffs on imports, according to official Korean statistics. According to Yemen News Agency, the Korea Automobile and Mobility Association (KAMA) estimates car exports this year at between 2.71 and 2.72 million units. This represents a decrease of between 2.3% and 2.6% compared to the 2.78 million units exported in the previous year. The anticipated decline marks a significant shift in the trend of South Korean car exports, which have experienced consistent growth over the past few years. The factors contributing to this decline include the rise in overseas production by South Korean car manufacturers and the impact of US tariffs on imports, which have affected the competitiveness of South Korean vehicles in the international market.
Related Articles
South Korea’s Exports Surge by 29% in February
Seoul: South Korea’s exports surged 30% year-on-year in February, reaching a record high for the month, driven by strong demand for semiconductors, according to government data released Sunday.
According to Yemen News Agency, exports totaled $67.45 b…
Colombian President: Inflation Rate Decreases in November
Bogota: Colombian President Gustavo Petro announced on Saturday that the inflation rate decreased in November of this year compared to November of last year.
According to Yemen News Agency, in a post on the “X” platform, the president stated that th…
1,700 Millionaires Depart from Israel Amid Economic Concerns
Tel Aviv: Israeli Channel 13 confirmed on Tuesday that 1,700 millionaires have left the Zionist entity in occupied Palestine over the past year. The departure of these individuals is seen as a significant event with potential implications for the coun…