Korean concern in Europe

BRUSSELS: The wave of low-cost South Korean cars swamping Europe is causing concern for European manufacturers.

According to the director of trade and economics at the European Automobile Manufacturers Association, Heinz Handtrack, the South Koreans' market share was still a marginal 2 percent but new registrations of South Korean cars jumped 38 percent in 1996 from the previous year.

This figure was higher than European, U.S. and Japanese cars on the market. The association also voiced concern about the restrictions on foreign manufacturers selling into South Korea while the South Korean's enjoyed an open European market.