P.M. BRIEFING : S. Korean Car Exports Plummet
From Times wire services
SEOUL —
South Korean car exports dropped 36.5% to 276,059 in the first 10 months of 1989, compared with the corresponding 1988 period, the Korea Automobile Manufacturers’ Assn. said today.
Sales at home, however, rose 47.4% to 615,640 in the same period.
“Labor strife, the appreciation of the local currency and higher wages, as well as an insufficient supply of new models, are to blame for the fall in exports,” an association spokesman said.
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