[Photo] South Korean automobile production falls for 3 consecutive years

Automobile production in South Korean fell by more than 2% in 2018 compared to the previous year, marking the third straight year of decline in the domestic car manufacturing industry. South Korea has now slipped to seventh place in global automobile production, surrendering its sixth place spot to Mexico. Production in Mexico actually increased in 2018 by 1% compared to the previous year. The shutdown of GM Korea’s Gunsan factory, declines in domestic consumption and exports of cars and continued conflict between management unions have all been cited as factors. The photo shows Hyundai Motor cars ready for export in Ulsan.