Korea’s auto output likely to reach 6 million units

South Korea’s auto production is expected to surpass the 6 million mark for the first time this year, with exports reaching a record high, the government said. The Ministry for Knowledge Economy said total output includes both domestic and foreign production, with the latter expected to soar nearly 40% from the previous year. As of last year, South Korea ranked fifth in terms of automobiles produced and market share. The country’s global market share stood at 5.6%, trailing Japan, the United States, China and Germany. The former is a 2.8% gain from 4.08 million units produced within the country last year, while the latter is a 39.1% gain from 1.16 million units manufactured in overseas plants run by Hyundai Motor Co. and Kia Motors Corp. South Korean carmakers currently operate auto plants in the United States, Slovakia, China, India and Turkey. (May 13, 2008)