Exports of Korea-made used cars to hit record high in 2025

Demand for Korean used cars is growing rapidly in Russia and the Middle East, such as the UAE and Syria

Used cars parked in parking lots in Incheon for export (Courtesy of Yonhap)  
Used cars parked in parking lots in Incheon for export (Courtesy of Yonhap)  
Tae-Ho Lee 4
2025-04-29 09:00:02 thlee@hankyung.com
Automobiles

South Korea’s exports of used cars by its homegrown auto brands are expected to hit a historic high this year, thanks to their improved brand reputation and the weak Korean currency against the US dollar, making high-quality cars shipped from the country cheaper abroad.

Affinity Equity set to close $1.1 bn purchase of Lotte Rental

Affinity Equity set to close $1.1 bn purchase of Lotte Rental

Affinity Equity aims to transform Lotte Rental and SK Rent-a-Car into mobility service providers  Affinity Equity Partners said on Friday that it will sign a definitive agreement on March 11 with Lotte Group to acquire a 56.2% stake in South Korea’s No. 1 car rental and leasing compa

South Korea’s alternative data pioneer KED Aicel in full force

South Korea’s alternative data pioneer KED Aicel in full force

South Korea’s leading alternative data service provider Hankyung Aicel Inc. is poised to transform companies' and investors’ business and investment decision-making processes with its unique value-added information and actionable insights.The Korea Economic Daily, South Korea&rsquo

Central Asia emerging as South Korea’s new used car export market

Central Asia emerging as South Korea’s new used car export market

Hyundai Motor vehicles for export are loaded onto a car carrier ship at a seaport in Ulsan, South Korea South Korea’s export volume of secondhand vehicles to Central Asia is increasing for an unexpected reason: Russia.According to the Korea International Trade Association (KITA) on Wednes

S.Korean used cars flow into Russia via Central Asia

S.Korean used cars flow into Russia via Central Asia

Used cars from South Korea are being funneled into Russia via Kazakhstan and Kyrgyzstan, according to automobile industry sources on Friday. These vehicles typically passed through customs clearance in Almaty and Bishkek, the principal cities of Kazakhstan and Kyrgyzstan. They were then

K Car's evolution into top Korean used car sales platform

K Car's evolution into top Korean used car sales platform

Used cars are parked outside of a K Car dealership in Seoul When Seoul-based private equity firm Hahn & Co. acquired K Car Co. from SK Group in 2018, the No. 1 used car retailer in South Korea controlled a meager 3% of the 35 trillion won ($30 billion) market.Despite the steady growth in us

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