Hyundai Motor and Kia shares were strong on the morning of the 16th. Buying is seen to have gathered on news that the Korea-U.S. tariff negotiations have entered the final stage.
As of 9:15 a.m. on the 16th, Hyundai Motor was trading at 242,500 won on the main board, up 19,000 won (8.5%) from the previous session. Kia was also at 111,400 won, up 7,600 won (7.32%) from the day before.
It is interpreted as optimism that the Korea-U.S. trade talks will be concluded. On the 15th (local time), U.S. Treasury Secretary Scon Bessent said, "We think we are almost at the finish line with Korea in the trade talks," and added, "The issue comes down to the details, and we are currently working through those details."
In the tariff talks in Jul., the two countries agreed to lower the reciprocal tariff rate from 25% to 15% in exchange for Korea carrying out a total of $350 billion in investment in the United States. However, they showed differences over specific implementation plans, delaying the drafting of the final agreement.