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Optimism -S.Korea - Auto industry expert predicts good times ahead in 2006
Seoul,S.Korea -Joongang Daily -Dec 09, 2005: -- Domestic automobile sales will increase by over 11 percent next year from the estimated total of 1.1 million units sold this year, Hoh Moon, vice chairman of the Korea Automobile Manufacturers Association, said yesterday... Production among Korean automakers, including that in overseas plants, is set to increase by just over 8 percent, to exceed 4 million units for the first time. The boost in production, he said, is in large measure due to Korean automakers' overseas factories now running at full capacity... He also forecast exports will exceed 2.7 million units, an increase of 6.6 percent over this year and a record for the Korean auto industry... Mr. Hoh added that the government is looking into providing financial subsidies of between 20 million won ($19,300) and 30 million won on 4,000 hybrid engine cars to be used by government institutions in a trial running until 2009...
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