Automotive Market in South Korea
The South Korean automotive market is essential to the country's economy. It substantially impacts manufacturing output, value added, and total employment.
Overview
By 2022, South Korea was the world's fifth-largest producer of passenger cars, a robust competitor to Germany regarding vehicle output. In 2023, 1.72 million vehicles were registered in the market, a 3.2% increase in year-to-date figures.
Market Share
The automotive market in South Korea is dominated by several local brands, with Kia Motors leading the pack and Hyundai Motor Company second.
Popular Car Brands
According to statistics, Hyundai is the most popular brand in South Korea. It is also one of the largest car makers in the globe. The following is Kia and Genesis is the third.
Auto Shows in South Korea
There are many auto big and small auto shows in South Korea. Some significant ones include:
Auto Salon Week
Korea Auto Industry & Green TransporTech Show
Daegu International Future Auto & Mobility Expo (DIFA)
Daegu Automatic Machinery Expo
The Connected Mobility Expo
The South Korean market is expected to grow at a significant compound annual growth rate (CAGR) between 2023 and 2030. It is the best time to become a trend leader with a bright future. You can start by transforming with an unmatched vinyl wrap film and showing your attitude. Contact our regional distributor today and be the change.
