S. Korea's automobile output, exports shrink in May

South Korea's output of automobiles inched down from a year earlier in May, also pulling down its overall exports, the government said Wednesday.

The country's total output of vehicles came to 385,371 units last month, down 0.9 percent from the same period in 2012, according to the Ministry of Trade, Industry and Energy.

Outbound shipments dropped 0.3 percent on-year to 268,956 units.

The ministry said the output dropped as the unionized workers of industry leader Hyundai Motor Co. and its affiliate Kia Motors Corp. continued to boycott weekend shifts, though they have resumed weekend production in mid-May.

Hyundai Motor earlier said the halt of weekend production had prevented it from producing up to 79,000 vehicles between March 9 and May 18. In May alone, Hyundai's total output dropped 3.4 percent on-year to 152,724 cars, according to the ministry.

The drop in output also led to a slight decrease in the number of vehicles exported last month.

However, the total value of the cars shipped overseas gained 6.2 percent on-year as the average price of each vehicle rose 4.6 percent from US$13,644 last year to $14,265, according to the ministry.

The combined domestic sales of the country's five automakers also dropped from a year earlier as sales of imported vehicles surged to a new monthly high.

Local sales of domestically produced vehicles dropped 1.1 percent on-year to 119,982 units while those of imported cars jumped 14.5 percent to 13,411 units, according to the ministry. (Yonhap News)