Ministry of Trade Industry and Resources

The Ministry of Trade, Industry and Resources (MOTIR, Minister JK Kim) announced that Korea’s automobile exports rose 5.8 percent year-on-year to USD 6.71 billion in June 2026, the highest June figure on record. Domestic sales and production also increased 9.5 percent and 11.6 percent, respectively, to 160,000 and 394,000 units.

By region, exports rose in two key markets: North America, up 12.3 percent to $3.61 billion, and the European Union, up 13.7 percent to $0.87 billion. Hybrid vehicles led growth in exports to the United States, while electric vehicles drove gains in Europe. Exports to Asia and the Middle East fell 13.7 percent and 11.4 percent, respectively, to $0.54 billion and $0.46 billion. The declines appear to reflect a high base from strong used-car exports last year and the effects of the conflict in the Middle East. Eco-friendly vehicle exports remained solid, with monthly export volume exceeding 100,000 units for the first time and export value rising 31.3 percent year-on-year to $2.90 billion.

Domestic sales rose 9.5 percent year-on-year to 160,000 units. Eco-friendly vehicle sales reached 94,000 units, accounting for 59 percent of the total. Electric vehicle sales rose 92.1 percent to 39,000 units, driving the increase in eco-friendly vehicle sales.

Automobile production rose 11.6 percent year-on-year to 394,000 units. The increase appears to reflect stronger domestic sales and the easing of production disruptions as alternative supplies of previously scarce parts stabilized.

The first half of 2026 saw automobile production hold steady at 2.11 million units, roughly unchanged from the same period in 2025. Domestic sales rose 2.5 percent to 848,000 units, while export volume increased 2.1 percent to 1.44 million units, reflecting stable performance across the industry. Export value, however, fell 1.1 percent to $35.95 billion, partly due to lower used-car exports.

MOTIR expects uncertainty in domestic and external conditions and structural changes in the industry to persist in the second half of 2026, with upcoming labor-management negotiations, growing global sales by Chinese automakers, and the accelerating AI transformation in manufacturing. The ministry will maintain close communication with the industry, monitor export and production trends, and support the automobile industry’s stable growth, including its transition to future vehicles.