S. Korea Car Exports Dive: The exports...
From Times Staff and Wire Reports
S. Korea Car Exports Dive: The exports fell 36.5% to 276,059 units in the first 10 months of 1989 from a year ago, the Korea Automobile Manufacturers’ Assn. said. Domestic sales, however, rose 47.4% to 615,640 units. An association spokesman blamed labor strife, the appreciation of the local currency, higher wages and an insufficient supply of new models. Of the country’s three major auto makers, Hyundai exported 180,107, down 41.6%, and Daewoo 21,025, down 64.6%. Kia sold 72,780 abroad, up 15.2%.
