by Cho Seulkina
Published 09 May.2025 09:30(KST)
As the Donald Trump administration decided to lower tariffs on British-made automobiles, automobile-related stocks such as Hyundai Motor and Kia are showing strength in the domestic stock market on the morning of the 9th.
As of 9:23 a.m. on this day, Hyundai Motor shares are trading at 192,600 won per share, up 2.94% from the previous session. Kia is also up 3.08%, trading at 90,500 won.
This follows the Trump administration's announcement on the 8th (local time) of a trade agreement with the United Kingdom to reduce tariffs on automobiles from 25% to 10% for up to 100,000 vehicles per year. The figure of 100,000 vehicles nearly matches the number of cars the UK exports to the US annually. As a result, there is growing expectation for tariff reductions in negotiations with South Korea as well, which is believed to be driving buying momentum.
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