Auto imports by South Korea surged in the first 11 months of last year as high-income customers wanted more diverse products, and foreign carmakers launched aggressive marketing, an industry group said Tuesday.
A total of 50,563 foreign vehicles were imported in the January-November period, up 10 per cent from the corresponding period of a year earlier, according to the Korea Automobile Importers and Distributors Association.
That translates into US$2.1 billion worth of cars imported in the first 11 months of the year, up 21 per cent from $1.7 billion a year earlier, the association said.
South Korea imported a total of 21,313 units valued at $1.13 billion from Germany during the cited period, while buying 13,413 units valued at $401 million from Japan.
The country also imported a total of 1,499 units worth $87.3 million from Sweden in the first 11 months of the year, the association said.