S. Korea's auto exports to Russia down 71.5 percent in January

(MENAFN) Reports showed that South Korea's car exports to Russia declined sharply in January, mainly on the weak ruble that made it unprofitable to sell cars in the country, Yonhap News reported.

South Korea's shipments of new cars to Russia reached 3,097 units in January, down 71.5 percent from 10,862 a year earlier, the Korea Automobile Manufacturers Association (KAMA) said.

The drop has also affected exports to non-EU countries in Europe, such as Russia and Ukraine, that stood at 6,591 units in January, a drop of 62.9 percent from 17,768 units registered in January 2013.

Exports by Hyundai Motor Co. to non-EU countries stood at 2,691 units in the period, down from 5,622 units on-year, while Kia Motors Corp. sold 2,417 units, down from 4,417 cars over a year earlier.