INSIGHTS
South Korea Used Vehicle Export Market
Explore South Korea’s used vehicle supply base, export growth, and key destination markets.
South Korea’s Used Vehicle Market
In 2024, South Korea's used vehicle market recorded approximately 3.90 million ownership transfers and about USD 17.7 billion in used vehicle sales industry revenue; by volume, it was roughly 2.4 times the new-vehicle registration market, creating a large and reliable supply base that supports continued export growth.
South Korea’s Domestic Used Vehicle Market Size and Trends (2021–2024)
Source: Ministry of Land, Infrastructure and Transport, Automobile Registration Statistics; Korean Statistical Information Service (KOSIS), Service Industry Survey – Used Automobile Sales; Seoul Money Brokerage Services
Note: Revenue was converted using the 2024 year-end closing exchange rate of USD 1 = KRW 1,472.5
Data compilation and analysis: Balmoral Korea