S. Korean Auto Exports to Soar

South Korea’s three main auto companies said today they plan to increase exports 23.4% next year. The planned exports total 679,000 vehicles, mostly small cars, up from 550,000 vehicles in 1987.

Hyundai Motor Co., Daewoo Motor Co. and Kia Motors Corp. also announced 1988 domestic sales goals totaling 660,000 vehicles, up 57.9% from this year’s combined sales. South Korea’s annual auto production will exceed 1 million vehicles for the first time next year if the targets are attained.