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U.S. sold more cars in Korea than Japan last year

June 20, 2016 - 10:18 By 임정요

U.S. carmakers sold more cars in South Korea than Japan last year, industry data showed Monday, due mainly to the competitive advantages of the free trade deal between Seoul and Washington.

Sales of American cars in South Korea came to 17,501 units last year, compared with 14,623 units of U.S. cars sold in Japan, according to the Korea Automobile Importers and Distributors Association and Japan Automobile Importers Association.


It marked the first time that sales of American cars in South Korea have exceeded those in Japan.

U.S. carmakers sold 7,140 units in South Korea for the first five months of this year, accounting for 7.7 percent of the imported foreign car market. In comparison, a total of 5,219 American cars were sold in Japan in the same period and their market share reached 3.9 percent.

The growth of sales of U.S. cars in South Korea came as American carmakers have competitive prices due to the free trade deal that went into effect in 2012.

In 2012, South Korea lowered its tariffs on U.S. cars to 4 percent from 8 percent. South Korea fully lifted import tariffs on imported vehicles from the U.S. earlier this year, a move that could give a further boost to sales of U.S. cars in South Korea. (Yonhap)