Shulou(Shulou.com)11/24 Report--

Import and export figures released by the Korea Trade Association recently showed that South Korea's imports of cars from China in the first half of this year (January to June) were second only to Germany and the United States, reaching 275.57 million US dollars, a year-on-year increase of 79.7 percent, the Asia Daily reported today (21).

According to statistics, South Korea's imports of electric cars from China reached 52.82 million US dollars, an increase of 367.8 percent over the same period last year, ranking third among all importing countries. South Korea exports only $1.53 million of electric cars to China, and the trade deficit may be widening.

According to the Korea Automobile Industry Association (KAMA), China's imports of electric buses carrying 10 or more people have increased significantly and now account for more than half of South Korea's domestic share.

According to the report, with the advantages of the battery market, Chinese companies such as Geely and BYD will work with South Korean Renault and Ssangyong to launch new cars in the domestic market, so the offensive in the car sector is likely to be more intense.

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