Kia Corp Takes Financial Blow from U.S. Tariffs

On Friday, Kia Corp disclosed experiencing a substantial financial setback resulting from U.S. tariffs. The South Korean automotive giant reported losses amounting to 786 billion won, equivalent to $570.36 million, in the second quarter of the fiscal year.

These tariffs have posed a significant economic challenge for the company, affecting its profitability during the April to June period, as it navigates the complexities of international trade relations.

The financial strain highlights the broader implications of tariff impositions on global businesses and the automotive industry at large, with the exchange rate during the losses recorded at $1 = 1,378.0800 won.

(With inputs from agencies.)