In the face of a general decline in vehicle exports from South Korea, the country’s Ministry of Trade, Industry and Energy has found a silver lining in increased exports of new energy vehicles (NEVs). It has also recorded rises in automotive parts exports to emerging markets.
Data from the Korea Automobile Manufacturers Association (Kama) showed that from 2012 to 2018, the country’s automotive exports fell by an annual average of 4.2%, while NEV exports increased by an average of 33% per year.
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