Despite 'heavyweight' competitors, Korean auto exports hit new record

South Korea's total auto exports reached $37 billion in the first half of this year, up 3.9 percent year-on-year.

According to data released by the Korea Automobile and Mobility Association on July 14, the average export price of Korean cars reached $25,224 per unit in the January-June period, up 0.5% from $25,079 recorded a year earlier.

Meanwhile, total auto export value reached 37 billion USD in the first half of this year, up 3.9% over the same period.

The increase comes amid growing demand for eco-friendly models, as well as SUVs and commercial vehicles, which typically come with higher prices.

According to data compiled by the Ministry of Trade, Industry and Energy, South Korea's hybrid car exports increased 19.5 percent year-on-year in the first half of the year, with commercial vehicle exports also rising 6 percent.

Despite the rise of Chinese rivals with higher price competitiveness, commercial vehicle exports are showing signs of recovery, a South Korean auto industry expert said.