(MENAFN) Car exports by South Korean automakers fell in the first half due to a sluggish demand from emerging markets amid the weakness of the Japanese yen and the European single currency, Xinhua reported.
Auto exports registered 1,551,982 units during the January-June period, down 3 percent from the same period of last year, according to data released by the Ministry of Trade, Industry and Energy.
The export fall was attributable to faltering demand from emerging markets, including Russia, that are struggling with economic slowdown. The weakness of the Japanese yen and the euro dampened price competitiveness.
Auto exports to Eastern Europe, Latin America and the Middle East plunged 64.9 percent, 23.2 percent and 10.1 percent respectively in the first half, while those to the US gained 17.1 percent.
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