Exports and domestic car sales decline in South Korea

South Korea’s auto industry is showing signs of a softer phase, with both exports and domestic registrations declining and putting pressure on overall growth. The drop reflects weaker demand abroad and a still cautious home market.

For an industry that plays a major role in the country’s economy, the downturn is a warning sign. Carmakers now need to protect volumes by focusing on in-demand models and an increasingly tough fight in overseas markets.