On July 23, Hyundai Motor and Kia saw strong gains of around 6% in the domestic stock market following news that the United States and Japan had reached an agreement on tariff negotiations.
As of 10:00 a.m. on this day, Hyundai Motor's stock price was trading at 217,250 won per share, up 5.21% from the previous session. Kia's stock price was up 6.03%, reaching 103,700 won.
This is interpreted as a result of growing expectations that an agreement between South Korea and the United States will also be reached soon, following the news of the U.S.-Japan tariff negotiations. On the same morning, U.S. President Donald Trump announced on Truth Social that the reciprocal tariff on Japan would be lowered from 25% to 15%, according to Korea Standard Time.
Immediately afterward, Japanese media outlets including NHK also reported, citing government officials, that the two countries had agreed to set the automobile tariff, a key focus for Japan in the negotiations, at 12.5%.
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