In the first half of this year, it was found that the global market share of Korean automobiles fell compared to last year.
According to the Korea Automobile Manufacturers Association, the market share of Korean cars fell 0.2 percentage points from 7.9% in the first half of last year to 7.7% in the first half of this year.
Although Korean cars' share in major markets such as Europe and the US increased, their share in emerging markets such as India decreased slightly.
In the first half of this year, European cars took the first place in market share with 26.7%, followed by Japanese cars with 26.5%.
As electric vehicle makers such as BYD performed well in the domestic market, the Chinese car market share increased by 3.7 percentage points from last year to 19.1%.
The Korea Automobile Manufacturers Association emphasized that Korea needs an active response, saying that major countries such as Europe and the United States are strengthening regulations on internal combustion locomotives to respond to climate change while increasing subsidies to foster their own industries.