Hyundai Motor Group Expresses Gratitude to Government Over Korea-U.S. Tariff Deal... Vows to Strengthen Competitiveness
On October 29, Hyundai Motor Group expressed relief over the agreement reached in the Korea-U.S. tariff negotiations, which will reduce tariffs on Korean automobile exports from 25% to 15%. The group also stated its commitment to further strengthening its competitiveness going forward.
In a statement released that afternoon, Hyundai Motor Group said, "We are grateful to the government for its dedicated efforts throughout the difficult negotiation process that led to this agreement. Hyundai Motor Company and Kia will continue to pursue various measures to minimize the impact of tariffs, while also further solidifying our foundation through enhanced quality, brand competitiveness, and technological innovation."
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Earlier, Kim Yongbeom, Policy Chief, announced the outcome of the Korea-U.S. tariff negotiations during a briefing following the Korea-U.S. summit, stating that the U.S. tariff on Korean automobile products would be reduced to 15%.
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