The production volume of Korean automakers is now bigger overseas than at home.

Data from the Korea Automobile Manufacturers Association show that Korean carmakers produced 2.77 million cars in the country from January to August but 2.92 million in their overseas factories.

The main reason were major strikes at Hyundai compounded by slow exports and lackluster sales in Korea.

The decreased output at home leads to a vicious cycle of smaller orders for subcontractors, lower factory operating rates, layoffs of assembly line workers and a worsening slump.

