Shares of South Korean car manufacturers drop following Trump's statement about increasing tariffs

Hyundai Motor Shares Drop Following U.S. Tariff Announcement

On Tuesday in Seoul, Hyundai Motor experienced a 4% decline in its share price at market open. This drop followed a social media announcement by U.S. President Donald Trump, who revealed plans to increase tariffs on South Korean imports, including automobiles, from 15% to 25%.

Kia Corp, Hyundai's sister company, saw its shares decrease by approximately 3.4%, while Hyundai Mobis, an affiliate, recorded a 5% fall in its stock value.