April 20, 2024

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[THE INVESTOR] Korea’s exports of automobiles retreated 18.3 percent last month compared to a year earlier, government data showed on Nov. 9.

The total value of vehicles shipped overseas reached US$2.89 billion in October, down 12.8 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

The number of vehicles sold abroad stood at 177,165 units last month.

The ministry attributed the fall to there being fewer working days in October, as the extended Chuseok holiday fell on the first week of that month.

Shipments to the European Union and Oceania rose 19.7 percent and 15 percent, respectively, while those to North America and the Middle East fell 21.9 percent and 34.8 percent, respectively, the ministry said.

By Alex Lee and newswires (alexlee@heraldcorp.com)