Exports of automotive parts to the U.S. totalled US$8.22 billion in 2024, up from $8.08 billion the previous year. The figure has been on a steady increase from $6.91 billion in 2021. The European Union was the second-largest destination of South Korean auto parts, accounting for 17.3 percent of overall exports last year, followed by Mexico with 9.5 percent and China 6.4 percent. The report comes amid concerns that the Donald Trump administration’s plan to impose 25 percent tariffs on all auto imports may seriously dent South Korea’s exports and auto industry. But some experts offer an optimistic view, noting that South Korea’s auto parts may act as a substitute for those of China as the trade war between the United States and China intensifies. The trade war is expected to continue for at least the next few years, according to a report by the Korea Institute for Industrial Economics and Trade, in a report released on Sunday.
