S. Korea's January automobile exports down on weak yen
(MENAFN) Data showed that South Korea's exports of automobiles dropped in January from a year ago, mainly due to a weak yen eroded their price competitiveness, Yonhap News reported.
Overseas shipments amounted to 249,675 units last month, dropping 2.8 percent compared to a year earlier, data released by the Ministry of Trade, Industry and Energy showed.
The figure marked an 18.1 percent drop from a month earlier, when exports hovered above 300,000 units. However, automobile output came to 376,017 units in January, up 2.1 percent.
Domestic sales of automobiles came to 132,337 units in January, up 8.5 percent on-year, helped by the launch of new models, while sales of imported cars came to 21,576 units, up 43.5 percent from last year.
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