Car ownership rate in South Korea 2003-2023
In 2023, there were around 0.5 passenger cars per inhabitant in South Korea. This meant that there was a registered car for every two people in the country. The number of cars registered per person first hit the 0.5 mark in 2019, and has stayed at that level for the past few years.
The leading home brand Hyundai Motor Group
As of 2022, the top 10 best-selling domestic car models in South Korea were from the Hyundai Motor Group (Hyundai Motor, Kia Motor, and Genesis). After Kia Motor was merged into Hyundai during the 1997 Asian financial crisis, both companies have shown strong growth. Hyundai Motor has four factories in South Korea, including its main factory in Ulsan and nine overseas factories.
Domestic mobility services
In South Korea, it is common to use public transportation such as buses or subways due to traffic congestion or a lack of parking spaces. In addition, the use of devices such as electric scooters or bikes has increased in recent years. Personal mobility devices (PMD) are frequently used in urban settings like Seoul, and have become a familiar presence on the street. In addition to this, the use of ride-hailing services such as Kakao T and Tada has greatly increased, offering customers further flexibility in their travels.
The leading home brand Hyundai Motor Group
As of 2022, the top 10 best-selling domestic car models in South Korea were from the Hyundai Motor Group (Hyundai Motor, Kia Motor, and Genesis). After Kia Motor was merged into Hyundai during the 1997 Asian financial crisis, both companies have shown strong growth. Hyundai Motor has four factories in South Korea, including its main factory in Ulsan and nine overseas factories.
Domestic mobility services
In South Korea, it is common to use public transportation such as buses or subways due to traffic congestion or a lack of parking spaces. In addition, the use of devices such as electric scooters or bikes has increased in recent years. Personal mobility devices (PMD) are frequently used in urban settings like Seoul, and have become a familiar presence on the street. In addition to this, the use of ride-hailing services such as Kakao T and Tada has greatly increased, offering customers further flexibility in their travels.
