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German cars finally breach Korea's market

Imports now account for 14%; German cars make up 71% of foreign cars sold this year

The value of imports from Europe was up 60 per cent to US$4.6 billion in the first nine months of 2014, customs data showed, against exports of US$4.4 billion.


SOUTH Korea is on track to spend more on vehicle imports from Europe this year than it earns from exports the other way, for the first time in 24 years, as German brands breach the once impregnable fortress of Hyundai Motor and its local rivals.

The turnabout follows a 2011