Market Update: We break down the business implications, market impact, and expert insights related to Market Update: Auto exports rise 20 percent in January on eco-friendly model demand – Full Analysis.
Published: 19 Feb. 2026, 13:07
Updated: 19 Feb. 2026, 14:04
Cars wait to be exported at a port in Pyeongtaek, about 60 kilometers (37 miles) south of Seoul, on Jan. 27. [YONHAP]
Korea’s auto exports rose 21.7 percent from a year earlier in January, driven by robust shipments of environmentally friendly models and a larger number of working days, government data showed Thursday.
The combined value of automobile exports came to $6.07 billion last month, the second-highest for any January, thanks to strong demand for EVs and hybrid cars, according to the data from the Ministry of Trade, Industry and Resources.
EV exports climbed 21.2 percent on year to $780 million, while shipments of hybrid cars surged 85.5 percent to $1.71 billion.
The ministry said the January performance is also attributable to a greater number of working days for the month in 2026 compared with last year.
Last year, the traditional Lunar New Year holiday fell in January, leading to a fewer number of working days. This year, the extended holiday fell in February.
By destination, exports to the United States expanded 19.2 percent on-year to $2.66 billion, despite U.S. tariff effects, while shipments to the European Union jumped 34.4 percent to $871 million.
Shipments to Latin America and Oceania surged 34.1 percent and 30.2 percent, respectively, to $234 million and $322 million, the data showed.
But exports to Asia dipped 30.1 percent to $325 million.
Domestically, 120,787 vehicles were sold last month, up 14 percent from a year earlier.
Yonhap