Tuesday, December 10, 2019
Over One-tenth of Cars in South Korea are Imported Ones
Ratio of Imported Cars to Total on the Rise
Over One-tenth of Cars in South Korea are Imported Ones
  • By Jung Min-hee
  • March 26, 2019, 08:34
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More than one out of 10 cars in Korea are imported ones.

The Korea Insurance Development Institute (KIDI) announced on March 25 that a total of 16,302,000 cars with 10 seats or less are currently insured in South Korea, the cars are divided into 14,511,000 domestically produced cars and 1,791,000 imported cars, and the ratio of the latter increased from 8.8 percent to 9.8 percent in 2017 and to 11 percent in 2018.

KIDI also said that the ratio of female imported car drivers is 29.2 percent and the ratio of female non-imported car drivers is 26 percent. When it comes to non-imported car drivers, those in their 50s, 40s, 30s and 60s account for 28.9 percent, 28.4 percent, 20 percent and 14.4 percent, respectively. As for imported car drivers, those in their 40s, 30s, 50s and 60s represent 31.9 percent, 27.6 percent, 22.7 percent and 11.3 percent, respectively.

Those in their 30s and 40s are using online car insurance more than the others, and 51.5 percent of non-imported cars and 55.7 percent of imported cars are currently covered by that type of insurance. The latter rose 8.1 percentage points in two years. 77.3 percent and 84.4 percent of non-imported and imported car drivers have collision and comprehensive coverage, respectively.