Korea’s vehicle parc exceeds 18 million

The Korean transportation ministry reported that registered cars in the country have surpassed the 18-million count in January. Numbers have gone up to 18.04 million cars at the end of January compared to the 17.94 million at the end of last year. Should the current pace of increase maintain itself, the ministry is expecting the count to exceed 20 million by the end of 2014. South Korea has a population of around 50 million. The ministry says that the number of imported cars in the country make up 2.92% of registered cars in Korea. (February 10, 2011)