Exports Continue To Provide Support

Plagued by annual industrial action and an escalating rate of vehicle ownership, South Korea's automotive industry can be a tough nut to crack, as reflected in the poor domestic sales performance of 2004. However, BMI's recently published South Korea Automotives Report suggests that the growth of 2005 can continue its momentum into 2006, despite a slow start to the year. Indeed, September was a record month for most of the domestic manufacturers and puts the market well on its way to meeting BMI's 2006 domestic sales forecast of 1.22mn units. We would expect marginal growth to be maintained throughout the

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