Korea’s automobile exports show upturn trend
According to Korea Automobile Manufacturers Association (KAMA), in the first two months of 2004, Korea's automobile exports to the Middle East, Eastern Europe and Africa have doubled when compared with the same period of previous year. In the aforementioned period, Korea's automobile exports amounted to 313'065 units, up by 24.7% compared to corresponding period of last year. The increase is attributed to the shipments to third world markets. Korea exported 140'507 units of automobile to North America during the cited period which indicated an increase of 16.7% compared to January-February 2003 period. However, North America accounted for 44.9% of all exported automobiles. This rate was 48% in the first two months of 2003. Exports to the Middle East surged by 109.6% in this period and reached 24'680 units. Sale of automobiles to Eastern Europe also soared by 100.3% to 21'265 units. The number of automobiles exported to other regions such as Africa, Asia, Pacific and Latin American countries are not as large, but Korean auto manufacturers have expanded their presence there.