SEOUL, KOREA - Korea's car exports marked a negative year-on-year growth of more than 5 percent last month due to the contraction of the European economy, the high-won, low-yen shock and the refusal by the unions to do weekend overtime work at assembly plants of major carmakers.
According to the Ministry of Trade, Industry, and Energy, the nation's automobile exports reached 261,501 units in April 2013, down 5.6 percent from a year ago.
Korea's monthly car exports continued on a downward trend for three straight months. After reaching 288,344 in January, up 17.1 percent year on year, the nation's car exports marked a negative growth of 21.9 percent in February and 16 percent in March from the same month last year.
By brand, Hyundai Motor exported 95,359 vehicles in April, down 16 percent year on year, while Kia Motors shipped 103,496 cars, up 5.3 percent from the same period in 2012.
GM Korea suffered a 3.2-percent setback to 48,599, while Renault Samsung saw its exports plunge by 27.1 percent to 6,336. In contrast, Ssangyong Motor enjoyed an 18.7-percent growth to 7,132 units partly thanks to the rising popularity of Korando C in Russia.