Korean Car Exports to Middle East Jump 12.7% in July

The numbers speak volumes. South Korea's car export value exceeded $6.2 billion in July, hitting an all-time high for that month, according to data released Thursday by the Ministry of Trade, Industry and Energy.

The Middle East led the charge. Exports to the region surged 12.7% to reach $430 million, while shipments to Asia and Central and South America fell 27.1% and 7.4%, respectively. These figures reflect a clear shift in Korean automakers' focus toward emerging markets.

Record-Breaking Performance in North America and Europe

Exports to North America climbed 18% to $3.25 billion, a record level underscoring sustained demand in the U.S. market. European Union-bound shipments also grew impressively, rising 23.5% to $880 million.

The bigger story lies in the overall performance. Car export value rose 7% year-on-year in July to reach $6.24 billion, surpassing the previous July record of $5.9 billion set in 2023. This growth wasn't accidental — eco-friendly vehicles led the way, with exports soaring 25.5% to $2.59 billion, accounting for 41.5% of total export value.

Domestic Market Transforms

At home, car sales inched up 0.5% to 139,000 units last month. But the remarkable figure is that eco-friendly cars captured 60% of domestic sales, with 84,000 units sold.

Competition is heating up in South Korea. The Tesla Model Y sold 7,705 units to become the best-selling car in the country, edging past the Hyundai Grandeur with 8,532 units. The Kia Seltos followed closely in third place with 7,427 units.

These numbers paint a clear picture: Korean cars are expanding aggressively in the Middle East, and the shift toward eco-friendly vehicles is no longer a trend but a reality. The market is moving, and expectations point to continued momentum in the coming months.