FTAs Will Boost Already Strong Import Sales

BMI has long held a positive view on sales of imported vehicles in South Korea, and data for the nine months to September support both BMI's forecast and that of the country's Ministry of Knowledge Economy that in 2011 imports will surpass 100,000 units for the first time. One driving factor is the implementation of the free trade agreement (FTA) between South Korea and the European Union (EU) on July 1, which has seen imports of European brands rise 27.4% year-on-year (y-o-y) during Q311.

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