More Than Half of Koreans Own a Car
James Kim, July 17, 2017, 9:35 a.m.
More than 22 million cars are now registered in Korea, which means that more than half of Korean adults have a car.
As of the first half of the year there were 22.19 million cars on the roads, one for each 1.93 adults and up 1.8 percent from the end of last year, the Ministry of Land, Infrastructure and Transport said Saturday.
Imported cars accounted for eight percent, up 0.5 percentage points from late last year.
Some 15,900 of the total were electric vehicles, a 35-fold increase from five years ago thanks to government incentives.
Vehicle registration surpassed 500,000 in 1980, 1 million in 1985, 10 million in 1997 and 20 million in 2014.
The increase has slowed a little due to the domestic recession since 2015.