Hyundai Motor, South Korea's largest automaker, posted a sharp drop in first-quarter earnings amid rising cost pressures from U.S. tariff barriers and Gulf-related shocks. Operating profit for the first quarter of 2026 came in at 2.51 trillion won, down 30.8 percent on year and in line with the market consensus of 2.4 trillion to 2.6 trillion won compiled by FnGuide. The underperformance reflects multiple headwinds for carmakers – sharp rise in o

After dominating the rechargeable bus market, smaller electrified four wheels of Chinese origin are rapidly proliferating on South Korean roads. Chinese brands accounted for 33.9 percent of Korea's electric vehicle market in 2025, up sharply from 4.7 percent in 2022, according to a report presented at the Automobile & Mobility Industry Development Forum hosted by the Korea Automobile & Mobility Industry Association (KAMA) in Seoul. Over

About half a million vehicles will be recalled due to defective parts, the Ministry of Land, Infrastructure and Transport said on Wednesday. The country's largest automaker Hyundai Motor will recall about 239,683 units across four models including the Santa Fe sport utility vehicle (SUV), the Ioniq 6 electric sedan, as well as its luxury brand Genesis' G90. The recall, set to begin on June 4, follows a similar recall in the U.S. earlier this mont

Hyundai Motor is expected to post a sharp drop in first-quarter earnings, as rising tariff burdens, war-related disruptions and currency-driven costs squeeze margins despite relatively resilient global demand. According to data compiled by FnGuide, the automaker’s operating profit is forecast at 2.4 trillion to 2.6 trillion won, down 38 to 50 percent from a year earlier. The company is set to report results on Thursday. The downgrade reflects inte

South Korea's Hyundai Motor Group has lodged a complaint with U.S. trade authorities over potential double taxing, claiming additional duties under Section 301 could duplicate existing restrictions under other regulations. In its submission to U.S. Trade Representative Jamieson Greer, the automaker — which plans to invest $26 billion in the United States through 2028 — stressed its role in strengthening American supply-chain resilience as it

When it rains, it pours for South Korean steelmakers as they face collateral damage from higher trade tariffs in Europe on top of U.S. duties aimed at curbing cheap Chinese imports. The European Parliament and the Council of the EU hammered out a deal on Monday (local time) after late-night negotiations, setting tariff-free quotas at 18.3 million tons per year — nearly halved from about 35 million tons permitted under the current safeguard regime. Impo

Kumho Tire will supply original equipment (OE) tires to Czech automobile manufacturer Škoda Auto, the tiremaker said on Monday. Kumho's flagship Ecsta PS71 tires, designed to optimize handling and braking on both dry and wet roads, will be fitted on Škoda Auto's electric SUVs, the Enyaq and Elroq, both built on Volkswagen's MEB electric vehicle platform. Škoda Auto has been a wholly owned subsidiary of the Volkswagen Group sin

Kia sold 4,983 units of its Seltos in the domestic market last month, the most in the small sports utility vehicle (SUV) segment for March, according to sales figures released by its parent company Hyundai Motor on Monday. Kia gave the Seltos its first major facelift in six years, giving it a bolder, more angular look in line with the brand's overall lineup, along with improved convenience and safety features. The popular SUV has held the top spot in its

Hyundai Motor's two concept cars for electric vehicles have been unveiled at a three-day event in Beijing, the automaker said on Friday. The event, which kicked off last Tuesday, was held to mark the launch of its flagship Ioniq brand in the world's most populous country. Stressing that it has "invested years in preparing" the brand to meet the demand and tastes of Chinese customers, it explained that Ioniq "evolves beyond a traditional