The Koreans are coming. Exports of South Korean cars and parts will hit a record high of £23 billion by the end of the year.

The ministry of commerce, industry and energy in Seoul said auto exports were expected to reach 2.7 million units, up 11.9% from last year, while exports of parts would jump by more than a fifth.

The report said the good performance was the result of automakers' better quality and competitiveness. With Kia and Hyundai spearheading the Far Eastern nation’s automotive ambitions, expect continued growth.

Both manufacturers have a host of competitive vehicles on the market, with several more planned. Kia expects the Cee'd C-segment vehicle (pictured), due next year, to achieve particular success in Europe.