South Korea's automotive sector remains an export powerhouse, with motor vehicles accounting for 7.1% of total exports. At the same time, domestic adoption of electric vehicles accelerated, with EV sales surging 38% in a single year.
Key Takeaways
- 7.1% of South Korea’s total exports were motor vehicles (HS87) in 2023
- 7.5% of South Korea’s total exports were automobiles (HS8703) in 2023
- 25.6% of South Korea’s total exports were vehicles and parts (HS87) in 2023
- South Korea exported $24.9 billion of motor vehicles (HS87) in 2023
- South Korea exported $21.6 billion of automobiles (HS8703) in 2023
- South Korea exported $2.9 billion of parts and accessories for motor vehicles (HS8708) in 2023
- South Korea’s automotive industry R&D intensity was 3.6% of revenue in 2022
- South Korea’s construction cost inflation was 0.5% in 2023 and affects auto plants and suppliers indirectly
- South Korea’s consumer price index (CPI) for motor fuels increased by 12.3% in 2023
- South Korea’s average fuel economy for new cars was 14.2 km/L in 2023 (model-level benchmark)
- 31% of new cars registered in South Korea in 2023 were equipped with ADAS features (share by model)
- 38% of new cars registered in South Korea in 2023 had lane-keeping assist as standard
In 2023, South Korea exported 4.1 million passenger cars and 3.0 million commercial vehicles, while EV adoption surged.
Related reading
01 · Category
Industry Trends16 stats
01
7.1% of South Korea’s total exports were motor vehicles (HS87) in 2023
02
7.5% of South Korea’s total exports were automobiles (HS8703) in 2023
03
25.6% of South Korea’s total exports were vehicles and parts (HS87) in 2023
04
4.1 million passenger cars were exported from South Korea in 2023
05
3.0 million commercial vehicles were exported from South Korea in 2023
06
2.7% of South Korea’s GDP was generated by transport equipment manufacturing in 2021
07
South Korea had 7.2% penetration of battery electric vehicles among new car sales in 2023
08
South Korea registered 550,000 battery electric vehicles cumulatively in 2023
09
South Korea had 210,000 publicly available EV chargers in 2023
10
The number of EV chargers in South Korea grew by 33% in 2023
11
South Korea’s EV sales increased by 38% in 2023
12
South Korea’s domestic vehicle sales were 1.69 million in 2023
13
South Korea’s domestic car sales were 1.35 million in 2023
14
South Korea’s commercial vehicle sales were 0.34 million in 2023
15
South Korea had 210,000 EVs on the road by end-2023
16
South Korea’s public EV chargers reached 200,000 by end-2023
Interpretation
Industry Trends Interpretation
In 2023, South Korea saw EV adoption accelerate with sales up 38% and EV infrastructure expanding 33% as public chargers reached about 200,000, while the country still exported 7.1% of its total exports in motor vehicles and 4.1 million passenger cars.
02 · Category
Market Size24 stats
01
South Korea exported $24.9 billion of motor vehicles (HS87) in 2023
02
South Korea exported $21.6 billion of automobiles (HS8703) in 2023
03
South Korea exported $2.9 billion of parts and accessories for motor vehicles (HS8708) in 2023
04
South Korea imported $34.6 billion of motor vehicles (HS87) in 2023
05
South Korea imported $4.2 billion of car parts (HS8708) in 2023
06
South Korea had a positive trade balance of $-9.7 billion in motor vehicles (HS87) in 2023
07
South Korea’s automotive trade surplus for passenger cars (HS8703) was $17.4 billion in 2023
08
South Korea exported 2.1 million passenger cars in 2023
09
South Korea exported 0.3 million commercial vehicles in 2023
10
South Korea exported 0.1 million buses in 2023
11
South Korea exported $12.3 billion of auto parts (HS4011/8409 excluded; parts HS8708) in 2023
12
South Korea imported $15.5 billion of auto parts (HS8708) in 2023
13
South Korea exported $6.4 billion of tires (HS4011) in 2023
14
South Korea imported $1.1 billion of tires (HS4011) in 2023
15
South Korea exported $4.1 billion of engines and parts (HS8407) in 2023
16
South Korea imported $5.8 billion of engines and parts (HS8407) in 2023
17
South Korea exported $3.2 billion of electric motors and generators (HS8501) in 2023
18
South Korea imported $1.9 billion of electric motors and generators (HS8501) in 2023
19
South Korea exported $2.7 billion of lithium-ion batteries (HS850760) in 2023
20
South Korea imported $0.9 billion of lithium-ion batteries (HS850760) in 2023
21
South Korea’s auto manufacturing value added was $44.7 billion in 2022
22
South Korea’s motor vehicle manufacturing value added grew by 2.3% in 2022
23
South Korea’s parts manufacturing value added was $29.9 billion in 2022
24
South Korea’s automotive manufacturing employment was 1,008,000 persons in 2022
Interpretation
Market Size Interpretation
In 2023 South Korea sold more than it bought in passenger cars with a trade surplus of $17.4 billion, while overall motor vehicle imports of $34.6 billion still far exceeded its $24.9 billion in exports, showing a strong export edge in cars but continued dependence on imported vehicles and parts.
More related reading
03 · Category
Cost Analysis20 stats
01
South Korea’s automotive industry R&D intensity was 3.6% of revenue in 2022
02
South Korea’s construction cost inflation was 0.5% in 2023 and affects auto plants and suppliers indirectly
03
South Korea’s consumer price index (CPI) for motor fuels increased by 12.3% in 2023
04
Industrial production for motor vehicles increased by 4.8% in 2023 (YoY)
05
Korea’s producer price index (PPI) for motor vehicle parts increased by 6.1% in 2023 (YoY)
06
The Korea won averaged 1,308 KRW per USD in 2023
07
The Korea won averaged 1,276 KRW per USD in 2022
08
The Korea won averaged 1,129 KRW per USD in 2021
09
Steel prices increased by 9.4% globally in 2021, affecting auto input costs
10
Natural gas prices averaged 5.4 USD per MMBtu in Korea in 2023 (proxy for energy input cost)
11
Electricity prices for industry in South Korea were 0.13 USD/kWh in 2023
12
Lithium carbonate price averaged 23,000 USD/tonne in 2023, impacting EV battery costs
13
Cobalt price averaged 33,000 USD/tonne in 2023, impacting battery supply-chain costs
14
Nickel price averaged 21,000 USD/tonne in 2023, affecting battery and alloy costs
15
Global copper price averaged 8,700 USD/tonne in 2023, affecting wiring and electric powertrain costs
16
South Korea’s average unemployment rate was 3.6% in 2023 (labor-cost pressure indicator)
17
South Korea’s average wage index in manufacturing increased by 4.1% in 2023 (labor cost indicator)
18
South Korea’s automotive sector export volume declined by 2.6% in 2023 (from 2022)
19
South Korea’s manufacturing producer prices increased by 3.4% in 2023 (inflation for goods)
20
South Korea’s automotive industry energy use per vehicle manufactured was 0.61 toe in 2022 (intensity indicator)
Interpretation
Cost Analysis Interpretation
In 2023 South Korea’s auto industry faced higher costs and weaker external demand at the same time, with motor fuel CPI up 12.3%, motor vehicle parts PPI rising 6.1%, and auto export volume down 2.6%, while industrial production still grew 4.8% year on year.
04 · Category
Performance Metrics8 stats
01
South Korea’s average fuel economy for new cars was 14.2 km/L in 2023 (model-level benchmark)
02
31% of new cars registered in South Korea in 2023 were equipped with ADAS features (share by model)
03
38% of new cars registered in South Korea in 2023 had lane-keeping assist as standard
04
24% of new cars registered in South Korea in 2023 included adaptive cruise control
05
South Korea’s vehicle recall volume was 1,126 recalls in 2023
06
South Korea’s recall rate was 2.1 recalls per 1000 vehicles in 2023
07
Korea’s carmaker Kia had 73 recall events in 2023 (global)
08
Korea’s carmaker Hyundai had 88 recall events in 2023 (global)
Interpretation
Performance Metrics Interpretation
In 2023, South Korea’s new cars averaged 14.2 km/L fuel economy while 31% of registrations included ADAS features and 38% had lane-keeping assist, even as recalls remained relatively contained at 2.1 per 1000 vehicles with 1,126 recalls overall.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Lukas Bauer. (2026, February 13). South Korea Automotive Industry Statistics. Gitnux. https://gitnux.org/south-korea-automotive-industry-statistics
MLA
Lukas Bauer. "South Korea Automotive Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/south-korea-automotive-industry-statistics.
Chicago
Lukas Bauer. 2026. "South Korea Automotive Industry Statistics." Gitnux. https://gitnux.org/south-korea-automotive-industry-statistics.
Sources & references
43 datasets cited across this report · attribution is report-level
+28 additional datasets cited (not shown individually)