Hyundai Motor Company’s Ulsan plant export shipping dock. /Courtesy of Hyundai Motor Company
Hyundai Motor Company’s Ulsan plant export shipping dock. /Courtesy of Hyundai Motor Company

Hyundai Motor and Kia stocks are strong during trading on the 24th. This seems to be influenced by concerns raised about the possibility that certain items, including automobiles, will be exempted as the Donald Trump administration has announced tariffs starting April 2.

On this day at 2:05 p.m., Hyundai Motor shares were traded at 214,000 won on the KOSPI market. Compared to the previous trading day, the stock price rose by 4.39% (9,000 won). At the same time, the stock prices of Kia and Hyundai Mobis also showed increases in the 3% and 4% ranges, respectively.

According to the Wall Street Journal, the possibility has increased that automobiles and pharmaceuticals will be exempted from the reciprocal tariff measures next month. Concerns have arisen that General Motors and Ford, which have greater production reliance on Mexico or Korea, could suffer even more serious impacts due to the tariffs.

Lim Eun-young, a researcher at Samsung Securities, noted, "Concerns over the tariff war have been particularly focused on the Korean automotive sector," adding, "The possibility of tariff exemptions has led to a strong recovery in stock prices across the sector, including Hyundai Motor and Kia."

Lim said that if the concerns over tariffs are alleviated, there are many factors that could drive up stock prices, including the announcement of jointly produced vehicle models by Hyundai Motor and GM, Kia's Investor Day, advancements in robotics technology, and cooperation with Toyota.