Seoul: The Republic of Korea's auto exports experienced a significant rise of 21.7 percent compared to the previous year in January. This growth was attributed to robust shipments of eco-friendly models and an increase in the number of working days, as reported by government data on Thursday.
According to Emirates News Agency, the combined value of automobile exports reached US$6.07 billion last month, marking the second-highest figure for any January on record. The surge in demand for electric vehicles (EVs) and hybrid cars played a crucial role in this increase, as indicated by the data from the Ministry of Trade, Industry and Resources.
Exports of electric vehicles saw a 21.2 percent year-on-year increase, amounting to $780 million. Meanwhile, shipments of hybrid cars experienced a substantial rise of 85.5 percent, reaching $1.71 billion, as reported by Yonhap News Agency.
