Seoul: South Korea's exports of used cars surged by more than 80 percent in the January-November period compared to the previous year, while exports of brand-new automobiles saw a slight decline.

According to Yonhap News Agency, the data compiled by the Ministry of Trade, Industry and Resources indicated that used car exports during the period reached US$8.4 billion, a significant increase from $4.6 billion in the previous year. In contrast, the combined exports of automobiles, including new cars, experienced a modest rise of 2 percent, amounting to $66 billion.

Excluding used cars, the exports of new automobiles saw a decline of 4.2 percent to $57.6 billion. This downturn is attributed to U.S. tariff issues and Hyundai Motor Group's strategic move to boost overseas production. An industry observer highlighted that improved technology and stronger brand recognition have enhanced the value of South Korean automobiles, with the weakened Korean won making them more competitive in international markets.

During the January-October period, Kyrgyzstan emerged as the leading destination for South Korean used cars, with exports totaling $2.62 billion. Russia followed with $909 million, Kazakhstan with $664 million, and the United Arab Emirates with $337 million.