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South Korea's booming used car exports cushion impact of US tariffs
Used car exports surged 72% to $3.9 billion in the first half of 2025, driven by demand in Russia and the Middle East amid U.S. tariffs on new vehicles.
- Tens of thousands of vehicles are lined for shipment from a former amusement park in Incheon as booming used car exports cushion declines after President Donald Trump announced 25% U.S. tariffs.
- A weaker won and strong overseas demand pushed exporters toward second‑hand markets, with South Korea selling more used cars to the Middle East than new vehicles and reporting a 40% rise in sales to Russia.
- Trade figures reveal sharp jumps in both volumes and export values, with used car exports rising 25% to $3.9 billion and 437,151 vehicles shipped abroad, Shin said.
- Ruling Democratic Party lawmaker Heo Jong-sik proposed an April bill to register exporters and develop export complexes, urging government support as traders warn Incheon’s poor facilities could limit growth.
- Despite Syria banning used car imports in July, used car exports are expected to set a new record high this year as global car exports rise for three straight months and August hit $3.9 billion.
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6 Articles
6 Articles
South Korea's booming used car exports cushion impact of US tariffs
From the muddy grounds of a former amusement park on South Korea's coast, tens of thousands of vehicles are being packed for shipment overseas as booming used car exports help to mitigate the impact of U.S. tariffs on new car sales.
·United Kingdom
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Total News Sources6
Leaning Left1Leaning Right0Center5Last UpdatedBias Distribution83% Center
Bias Distribution
- 83% of the sources are Center
83% Center
L 17%
C 83%
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