Hyundai Motor, Hyundai Mobis, and other automobile-related stocks within Hyundai Motor Group were strong on the morning of the 4th. The move came after news that tariffs on Korea's automobile exports to the United States would be retroactively lowered to 15%.
As of 10:05 a.m. on the same day, Hyundai Motor shares were trading at 277,000 won on the Korea Exchange, up 10,500 won (3.94%) from the previous session. Hyundai Mobis shares were also trading at 341,500 won, up 22,000 won (6.89%) from the previous session.
On the 3rd (local time), the U.S. extended government gazette published details to retroactively cut tariffs on Korea's automobile exports to the United States to 15%. The 15% U.S. tariff on automobiles from Korea, which takes effect on the 4th, the official gazette publication date, is expected to be applied retroactively to 12:01 a.m. on the 1st of last month (U.S. Eastern time).
U.S. business outlet CNBC said, "The U.S. tariff cut on imports from Korea will be a big boost for Hyundai Motor."