Kia announced on the 10th that it purchased MMT (Money Market Trust) securities worth 30 billion KRW from its affiliate Hyundai Motor Securities.
The maturity date is January 29, 2024, and the interest rate is based on the market rate. The cumulative investment amount in Hyundai Motor Securities is 1.71 trillion KRW.
The company explained the purpose of the transaction as "for stable fund management and profitability enhancement."
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