As the possibility arose that U.S. President Donald Trump could exempt some tariffs on foreign cars, the stock prices of Hyundai and Kia were strong in the pre-market on the 15th.
As of 8:35 a.m. on that day, Hyundai's stock was trading at 184,800 won, up 5,500 won (3.07%) from the previous day's closing price in the Nextrade pre-market. At the same time, Kia was also trading at 85,100 won, up 2,100 won (2.53%) from the previous day.
In addition, stocks of automotive parts companies such as Hyundai Mobis, HYUNDAI WIA, and HL Mando are also on the rise.
On the 15th (local time), as President Trump hinted at the possibility of easing tariffs on automotive parts, buying sentiment seems to have improved.
Overnight, President Trump mentioned during a meeting with the president of El Salvador that he is reviewing ways to help automotive companies, stating, "It will take some time to produce automotive parts in the United States."
This remark caused stock prices of major U.S. automakers such as General Motors (3.46%) and Ford (4.07%) to surge.
President Trump has been imposing a 25% tariff on imported cars since the 3rd. Tariffs on automotive parts including engines and transmissions are scheduled to take effect until the 3rd of next month.