Non-Korean auto brands grow in popularity in 2023

[Photo by Yonhap]

South Korea’s auto market saw international car brands rapidly grow in popularity in 2023, with a 7 percent increase year on year in sales.

The Maeil Business Newspaper, which tracked sales records on 28 foreign auto brands that year, found that 287,495 units with a value of 27.1 trillion won ($20.1 billion) were sold. Although the number of units sold was down 0.9 percent, the value increased 7.4 percent and the number of units sold increased 1.8 times in a decade.