my times
The Korea Times
open notice
search
Business
Others
Korea seeks new markets for used car exports amid Middle East war
Listen
Listen
Text Size
By
Lee Kyung-min
Published
May 13, 2026 11:19 am
KST
Korea Trade-Investment Promotion Agency (KOTRA) headquarters in Seoul / Courtesy of KOTRA
Korea’s booming used car export industry is scrambling to find new buyers as the prolonged war in the Middle East disrupts shipments to one of its largest overseas markets.
The Korea Trade-Investment Promotion Agency, or KOTRA, said Wednesday it will hold a two-day export consultation event in Incheon beginning Thursday to help used car exporters diversify their markets and reduce dependence on the Middle East.
The event, co-hosted with the Incheon Port Authority, the Incheon Chamber of Commerce and Industry and the Korea Transportation Safety Authority, will bring together 33 buyers from seven countries, including Georgia, Cambodia, Colombia, the Dominican Republic, Chile, Jordan and Egypt, with 61 Korean companies.
The consultations come as the conflict in the Middle East, now stretching beyond two months, disrupts logistics and marketing activities for Korean exporters. The region accounts for about 30 percent of Korea’s used car exports, according to KOTRA.
Korea’s used car exports reached a record $8.9 billion (13.3 trillion won) in 2025, up 75.1 percent from a year earlier, fueled by rising global recognition of Korean vehicles and growing demand from emerging markets, including the Commonwealth of Independent States, the agency said. The exports accounted for roughly 12 percent of Korea’s total automobile exports, which stood at $72 billion last year.
Demand for used auto parts has also climbed as global supply chain instability continues to affect the availability of new components.
On Thursday, participants will also attend a seminar focused on identifying alternative export destinations for used vehicles. On Friday, overseas buyers will visit the M Park automobile complex in Incheon to inspect Korean vehicles and parts and meet industry officials.
This article was published with the assistance of generative AI and edited by The Korea Times.
댓글
0