P.M. BRIEFING : S. Korea Auto Exports Fall 31%
FROM TIMES WIRE SERVICES
SEOUL —
South Korea’s auto exports in the first half of 1990 dropped sharply compared to the 1989 period because of sluggish sales in the United States and Europe, an industry report said today.
The Korean Automobile Industry Assn. said in a report that exports in the January-June period of this year stood at 125,282 units, a fall of 31.9% from the 1989 period when the total was 183,900 units.
Exports to the United States, previously the largest market for Korean-built cars, plummeted 47.2% from a year ago, the report said. As a result, the U.S. share in Korea’s auto exports shrank to 52.1% from 67.5%.
Exports to Europe dropped 46.4% over the year-ago period, the report said. Europe accounted for 7.2% of Korean auto exports during that time.
