ID :
52173
Wed, 03/25/2009 - 08:34
Auther :
Shortlink :
https://www.oananews.org//node/52173
The shortlink copeid
S. Korea's auto exports to Eastern Europe plunge in Feb.
SEOUL, March 25 (Yonhap) -- South Korean auto exports to Eastern European countries plunged about 70 percent in February, hit by the region's financial woes, industry data showed Wednesday.
Auto exports from South Korea to Eastern Europe plummeted 70.7 percent to 11,216
vehicles last month, according to the data by the Korea Automobile Manufacturers
Association.
"The impact of credit squeeze is huge there due to vulnerable financial systems,"
said an official at the association.
Eastern European economies such as Hungary and Ukraine have been hit hard by the
deepening global financial crisis, mainly because of their tumbling
foreign-exchange rates and large foreign debt.
Auto exports from South Korea to Eastern Europe plummeted 70.7 percent to 11,216
vehicles last month, according to the data by the Korea Automobile Manufacturers
Association.
"The impact of credit squeeze is huge there due to vulnerable financial systems,"
said an official at the association.
Eastern European economies such as Hungary and Ukraine have been hit hard by the
deepening global financial crisis, mainly because of their tumbling
foreign-exchange rates and large foreign debt.
