Editing Economy of South Korea (section)

===Automobile===
{{Main|Automotive industry in South Korea}}
[[File:Hyundai Sonata DN8 PE Aero Silver Matte (5).jpg|thumb|left|A [[Hyundai Motor Company|Hyundai]] automobile. The automotive line is a key sector in South Korea's industry.]]
The automobile industry was one of South Korea's major growth and export industries in the 1980s. By the late 1980s, the capacity of the South Korean motor industry had increased more than fivefold since 1984; it exceeded 1 million units in 1988. Total investment in cars and car-component manufacturing was over US$3 billion in 1989. Total production (including buses and trucks) for 1988 totaled 1.1 million units, a 10.6 percent increase over 1987, and grew to an estimated 1.3 million vehicles (predominantly passenger cars) in 1989. Almost 263,000 passenger cars were produced in 1985—a figure that grew to approximately 846,000 units in 1989. In 1988 automobile exports totaled 576,134 units, of which 480,119 units (83.3 percent) were sent to the United States. Throughout most of the late 1980s, much of the growth of South Korea's automobile industry was the result of a surge in exports; 1989 exports, however, declined 28.5 percent from 1988. This decline reflected sluggish car sales to the United States, especially at the less expensive end of the market, and labour strife at home.<ref>{{cite web|url=http://www.country-data.com/cgi-bin/query/r-12312.html|title=South Korea: Automobiles and Automotive Parts|publisher=Library of Congress|access-date=14 August 2010|archive-date=25 August 2016|archive-url=https://web.archive.org/web/20160825204042/http://www.country-data.com/cgi-bin/query/r-12312.html|url-status=live}}</ref> South Korea today has developed into one of the world's [[List of countries by motor vehicle production|largest automobile producers]]. The [[Hyundai Motor Group]] is South Korea's largest automaker in terms of revenue, production units and worldwide presence.