[THE INVESTOR] Korea’s auto exports rose sharply last month, government data showed on Sept. 12.

The total value of vehicles shipped overseas reached US$2.84 billion last month, up 23.6 percent from a year earlier, according to the data compiled by the Ministry of Trade, Industry and Energy.

The number of vehicles shipped abroad also soared 24.1 percent on-year to 174,363 units in August, compared to a 5.1 percent rise in the previous month.

A total of US$943 million worth of Korean vehicles was sold in North America in August, up 20.2 percent from a year earlier, while shipments to the European Union surged 86.5 percent on-year to US$329 million.

Meanwhile, the combined output of five local automobile companies, including industry leader Hyundai Motor, rose 26.3 percent on-year to 274,166 units last month fueled by an increase in local sales.

Domestic sales, including imported cars, advanced 11.7 percent from the previous year to 139,107 units in August.

By Alex Lee and newswires (alexlee@heraldcorp.com)