In January 2023, South Korea experienced a significant boost in hybrid and electric vehicle exports, which amounted to $2.56 billion, marking a remarkable 48.5% increase from the previous year. This surge made it the highest recorded amount for January, with hybrid vehicle exports reaching $1.71 billion and electric vehicle exports at $780 million. Overall, total automobile exports for the month hit $6.07 billion, representing a 21.7% increase year-on-year with eco-friendly vehicles accounting for a significant proportion of these exports, demonstrating a growing trend towards sustainable transport in the automotive sector.

Domestically, the sale of automobiles also saw a rise, with 121,000 units sold in January, up 14% compared to the same month the previous year. Domestic brands accounted for a majority of sales, with 98,000 units sold, along with a notable increase in imports. The surge in eco-friendly vehicle sales in the domestic market was particularly pronounced, with sales of such cars rising by 48.3% to reach 58,000 units, of which electric cars saw a staggering 507.2% increase, totaling 10,000 units sold. This aligns with global trends emphasizing electric mobility and reflects the South Korean government and industry's commitment to promoting greener transportation solutions.

Production rates in January also reflected this positive trend, climbing by 24.1% from the previous year to reach 361,000 vehicles. Each of the five automobile manufacturers reported increased production, with Renault Korea showing an impressive surge in production, bouncing back from a previous hiatus. These figures highlight the resilience and adaptability of South Korea's automotive industry, particularly as global consumers increasingly shift towards hybrid and electric vehicles, suggesting a sustainable growth trajectory in the automotive market moving forward.