[Market Focus] Hyundai Motor and Kia Hit Record Highs After Tariff Shackles Lifted

Hyundai Motor Company and Kia Corporation both surged sharply in early trading, setting new record highs, buoyed by the conclusion of tariff negotiations with the United States.

As of 9:08 a.m. on October 30, Hyundai Motor was trading at 276,000 won on the Korea Exchange, up 18,000 won (6.98%) from the previous day. During the session, it climbed as high as 289,500 won, setting a new 52-week high. Kia was trading at 122,600 won, up 5.87%, and also reached a new 52-week high during the session at 126,200 won.

The resolution of the Korea-U.S. tariff negotiations is believed to be the driving force behind the stock price rally. On the previous day, the two countries finalized a tariff agreement centered on a $350 billion "U.S. investment package." As a result, automotive tariffs will be reduced from the previous 25% to 15%.

Kim Jinseok, a researcher at Mirae Asset Securities, stated, "With the 10 percentage point reduction, the estimated tariff impact relief amounts to 2.3 trillion won for Hyundai Motor and 1.5 trillion won for Kia. As tariff uncertainties are resolved, market attention is expected to shift from tariffs to fundamental indicators. It is time to focus on the profit growth cycle driven by interest rate cuts and Hyundai Motor Group's market share in the United States."

This content was produced with the assistance of AI translation services.