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36 stories mentioning KRX:000270Updated 2d ago

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Asia

Kia Purchases KRW50 Billion in Hyundai Motor Securities MMT from Affiliate

Kia (KRX:000270) has purchased 50 billion won worth of Money Market Trust (MMT) securities issued by Hyundai Motor Securities, a special related party, according to a bourse filing on Friday.The transaction brings Kia's cumulative purchases from the counterparty to 385 billion won for the current fiscal year, with the MMT issued on Sept. 11, and maturing on Oct. 12, at a market interest rate.The deal was approved by the company's Sustainability Management Committee.The filing was made under Article 26 of the Fair Trade Act, which governs transactions with related parties.

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Asia

Kia Worker Dies of Occupational Disease While Receiving Treatment

A worker of Kia (KRX:000270) died on Thursday from an occupational disease while hospitalized, the South Korean automaker said in a Friday filing with the Korea Exchange.The workplace identified as the source of the disease is currently closed and not operating.

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Asia

Kia Reports One Fatality at Workplace

Kia (KRX:000270) said one fatality occurred at its workplace on Thursday, without giving the specific cause of death, according to a bourse filing on Thursday.The deceased had been approved for an occupational disease under the Industrial Accident Compensation Insurance Act on July 20, 2023, and died while receiving inpatient treatment at a hospital.The incident was reported to the Ministry of Employment and Labor on the same date it occurred, while the workplace is currently closed and not in operation.

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Asia

Hyundai Motor Group to Invest $5.8 Billion in Louisiana Electric Arc Furnace Steel Mill

Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), will invest $5.8 billion in an electric arc furnace steel mill in Louisiana, jointly constructed by Hyundai Steel (KRX:004020) and Posco (RX:005490), Hyundai Steel said Friday.Speaking at the groundbreaking ceremony, Hyundai Motor Group Executive Chair Chung Euisun said that the new facility will supply low-carbon, high-grade steel. The facility is expected to begin production in early 2029, with an annual capacity of 2.7 million tons of hot-rolled and cold-rolled steel sheets, primarily for automotive applications, the release said.Hyundai Motor Group will hold an 80% stake in the new facility, called Hyundai-Posco Louisiana Steel, while Posco will own the remaining 20%.Shares of Hyundai Motor rose nearly 2%, Kia added 1%, while Hyundai Steel added over 1%, and Posco shed 1% in recent trade.

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Asia

Kia's August Global Sales Rise 5%

Kia's (KRX:000270) August global sales rose 5% to 266,675 units from 253,943 a year earlier, according to a Tuesday filing.However, the figure was down nearly 11% from July's 298,068.Domestic sales fell about 8% year on year to 40,213 units, while overseas sales rose 7% to 225,413 from a year earlier.Year‑to‑date global sales through August totaled nearly 2.2 million vehicles, up 4.4% from 2.1 million a year earlier, the filing said.Cumulative domestic sales rose 7% to 390,596 units, while overseas sales edged up 3.7% to 1.8 million from a year ago.

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Asia

Market Chatter: Kia Secures Wage Deal with Labor Union

Kia's (KRX:000270) labor union has approved the yearly wage agreement with the company's wage management, concluding successful negotiations to avoid any strike for the sixth consecutive year, The Korean Times reported Aug. 28.The wage deal was approved by 64.1% of the 24,710 union members who voted, with 91% of the total members participating in the vote, the report said.The final deal includes a 100,000 won monthly increase in base pay, a performance bonus worth over 400% of monthly salary, and an additional payment of 12.7 million won each to workers.A Kia representative did not immediately respond to a comment request from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Hyundai Motor Group Unveils New Product Roadmap for US Market

Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), has come up with an aggressive product roadmap for its hybrid push in the U.S. market to beat Japan's Toyota Motor (TYO:7203), the Financial Times reported Wednesday.The South Korean automaker, in its investor day on Wednesday, unveiled its plan of more than 100 new vehicle launches and model updates through 2030, which comprise 58 for North America. Hybrids are expected to make up more than 50% of sales in the region, the report said.The group plans to enter 18 new vehicle segments, including mid-size pickups, which would increase its competition with Ford, Toyota and General Motors in the U.S. It also plans to introduce range-extended electric vehicles in H1 2027 as it looks to offset weakening U.S. EV demand following tax credit cancellations, it said.Shares of Hyundai Motor and Kia fell over 2% and 3%, respectively, in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Kia Buys KRW30 Billion Money Market Trust from Hyundai Motor Securities

Kia Corporation (KRX:000270) said that it purchased a 30 billion won money market trust from affiliate Hyundai Motor Securities (KRX:001500) in a related party transaction, according to a Wednesday filing with the Korean Exchange.The South Korean automobile manufacturer said the transaction, with maturity due Nov. 12, carries a market-based interest rate and will help improve profitability.The company's cumulative transactions with Hyundai Motor Securities during the current fiscal year totaled 335 billion won.

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Asia

LX Semicon Begins Production of Automotive MCU for Hyundai Motor, Kia

LX Semicon (KRX:108320) said that it has started mass production of its automotive motor control microcontroller unit, LX61101, for supply to South Korean automakers Hyundai Motor (KRX:005380) and Kia (KRX:000270), according to a Monday release.The company said that the new chips, designed for motor control in automotive body electronics, will be used in window safety and vehicle aerodynamics systems.The new chips will be used in Hyundai Motor and Kia vehicles scheduled to enter production in the second half of this year.

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Asia

Market Chatter: LX Semicon Completes First Supply of Automotive Chips to Hyundai Motor, Kia

LX Semicon (KRX:108320) completed the first supply of its automotive microcontroller unit to South Korean automakers Hyundai Motor (KRX:005380) and Kia (KRX:000270), marking a significant step in its automotive business.The company has started the mass production of the LX61101, an MCU optimized for motor control in automotive body electronics, The Korean Times reported Monday.The new chips will initially be used in Hyundai Motor and Kia vehicles scheduled to enter production in the second half of this year and are expected to be expanded to more models, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Kia's Global Sales Rise 13% in July

Kia's (KRX:000270) global sales grew 13% year over year to 298,037 vehicles in July, according to a Monday filing with the Korea Exchange.International sales increased 12% to 242,556 units, while domestic sales jumped 21% to 54,604 units.Global sales rose 4.3% to 1,929,417 vehicles so far this year, composed of 350,383 units sold domestically and 1,575,421 units sold abroad.

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Asia

Market Chatter: Kia to Invest $649 Million to Produce, Sell EVs in Mexico

Kia (KRX:000270) plans to invest $649 million in Mexico for the production and sale of fully electric vehicles in the country, Reuters reported Wednesday, citing managing director Horacio Chavez.The automaker's EV3 production is set to begin at its Nuevo Leon plant on Aug. 4, the report said, Mexican Economy Minister Marcelo Ebrard reportedly said.Shares of Kia fell nearly 1% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Kia's Second-Quarter Revenue Jumps Nearly 13% on Record Sales Volume
US Markets

Kia's Second-Quarter Revenue Jumps Nearly 13% on Record Sales Volume

Kia's (KRX:000270) revenue rose 12.6% in the second quarter of 2026 to 33.037 trillion won, boosted by strong demand for its vehicles overseas, pushing overall volume sales to a new high.The South Korean carmaker, owned by Hyundai Motor Group, sold a total of 851,639 vehicles in the April-June period, up 4.5% from a year earlier, according to a press release on Friday.The performance was boosted by strong demand for Kia cars overseas. Domestic sales only accounted for 18.2% at 154,816 units, while overseas sales made up 81.8% of Kia's overall sales volume at 696,823 units."Although global industrial demand declined by 3.8% due to political instability in the Middle East and weakened purchasing sentiment in the Chinese market, Kia overcame these adverse conditions head-on and achieved record sales," the company said.Kia attributed the performance to its electrified model lineup, among other factors. Retail sales of electrified vehicles jumped 60% year over year to 296,000 units.Attributable net profit rose 2.6% in the second quarter to 2.328 trillion won from 2.269 trillion won a year earlier. Operating profit, however, narrowed 4.9% to 2.629 trillion won, which Kia attributed to aggressive pricing and incentive policies to counter Chinese EV brands at home and in Western European markets.Looking ahead, Kia expects to achieve "solid performance" in the second half and meet its annual guidance. In January, Kia said it expects to hit 3.35 million in global unit sales this year, up 6.8% from 2025.Full-year operating profit is forecast to reach 10.2 trillion won, while revenue is predicted to hit 122.3 trillion won.Kia's shares tumbled 13% in late-afternoon trade on Friday.

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Asia

Kia's Profit, Sales Rise in Q2

Kia's (KRX:000270) posted a 2.6% year-over-year increase in net income attributable to shareholders to 2.328 trillion won from 2.269 trillion won for the second quarter, according to a Friday filing with the Korea Exchange.The South Korea-based automaker's sales increased 12.6% to 33.037 trillion won for the three months ended June 30.

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Asia

South Korean Shares Close Higher for Second Day on Overnight Wall Street Gains

South Korean shares closed higher on Wednesday for a second straight day on overnight Wall Street gains, ahead of second-quarter earnings releases of US big tech companies.U.S. stocks rebounded on Tuesday, with the Dow Jones Industrial Average gaining 0.74%, the S&P 500 adding 0.89% and the Nasdaq Composite climbing 1.3%, as all three indexes snapped three-day losing streaks.The Korea Composite Stock Price Index, or Kospi, increased by 49.75 points, or 0.7%, to end at 6,797.7. The Kosdaq fell by 2.25 points, or 0.3%, to close at 751.09.In economic news, South Korea's producer price index (PPI) increased 8.6% year over year in June, according to preliminary data from the Bank of Korea released on Wednesday. The reading remained unchanged from the previous month but exceeded Trading Economics' forecast of 8.2%.PPI inflation across agricultural, forestry and marine products, and services was unchanged in June from May, while that of manufacturing products slowed. Out of all the primary sectors, only utilities posted an acceleration in producer price growth.On a month-over-month basis, South Korea's PPI was flat after rising for nine straight months.In corporate news, Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), introduced an integrated vehicle-to-everything (V2X) service called AllDayEnergy around the world, which would allow electric vehicles to double as mobile energy sources.The automotive group will work with Hana Financial Group (KRX:086790) subsidiary Hana Bank to introduce "AllDayEnergy My Heart Savings Account," Hyundai Motor Group said in a Tuesday release.V2X allows two-way power flow between electric vehicle batteries and the grid, enabling users to lower charging costs and generate revenue. The service stores electricity during off-peak hours and supplies it when the requirement is higher, it said.Shares of Hyundai Motor jumped nearly 5% while those of Kia added about 2% at market close.In other news, Unionized workers at Kakao Corporation (KRX:035720) subsidiary Kakao Bank voted to carry out a full-scale strike on July 31 after failed talks with management over salary hikes and other benefits, Yonhap News reported Wednesday.The bank's union and management are at odds over wages and benefits after no agreement was reached during negotiations, despite the bank posting record first-quarter operating income and revenue, the report said.Kakao Corp. has also faced continued wage-related disputes, with union members carrying out strikes last month, according to the report.The company did not immediately respond to a request for comment from.Shares of Kakao Corp. added nearly 1% at market close.

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Asia

Hyundai Motor Group to Introduce Global Vehicle-to-Everything Service

Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), introduced an integrated vehicle-to-everything (V2X) service called AllDayEnergy around the world, which would allow electric vehicles to double as mobile energy sources.The automotive group will work with Hana Financial Group (KRX:086790) subsidiary Hana Bank to introduce "AllDayEnergy My Heart Savings Account," Hyundai Motor Group said in a Tuesday release.V2X allows two-way power flow between electric vehicle batteries and the grid, enabling users to lower charging costs and generate revenue. The service stores electricity during off-peak hours and supplies it when the requirement is higher, it said.Shares of Hyundai Motor jumped over 6% while those of Kia added over 2% at market close.

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Hyundai Motor to Buy SoftBank's Stake in Boston Dynamics, Taking Full Ownership
US Markets

Hyundai Motor to Buy SoftBank's Stake in Boston Dynamics, Taking Full Ownership

Hyundai Motor Group (KRX:005380) is set to acquire SoftBank Group's (TYO:9984) remaining stake in robotics developer Boston Dynamics, giving the South Korean automaker full ownership of the US robotics company.The transaction was triggered after SoftBank exercised its put option on its shareholding, according to a Thursday press release.Financial terms of the deal were not disclosed, but according to Bloomberg, the purchase of SoftBank's 9.9% stake was valued at roughly $325 million.According to Korean media reports, SoftBank's stake in Boston Dynamics is estimated at 9.65%.Hyundai said shareholders are reviewing contractual rights and obligations tied to the existing agreements through their internal governance and approval processes.The deal comes as Hyundai, the parent company of its namesake brand Hyundai Motor and Kia Corp (KRX:000270), is building an end-to-end AI robotics value chain combining Boston Dynamics' expertise in AI Robotics with the group's manufacturing capabilities."Through this integrated approach, the Group aims to accelerate the development, validation and commercialization of Physical AI technologies and robotics solutions," Hyundai said.Boston Dynamics, headquartered in Massachusetts, develops machines for industrial automation, manufacturing, inspection, and research.The company unveiled its Atlas robot in 2013. A product version of the robot was recently launched."Atlas reduces human physical burden by performing higher-risk tasks; lays the groundwork for robot commercialization and collaborative human-robot environment," Hyundai said in January.The transaction also comes amid a backdrop of labor tension at Hyundai. A union leader told Reuters that Hyundai and Kia, both developing humanoid robots, appear to be planning to replace human workers with new technologies.In January, Hyundai announced plans to deploy humanoid robots at its US factory in Georgia beginning in 2028.Meanwhile, analysts including Changho Kim at Korea Investment & Securities said the acquisition "would ease Hyundai's concerns over the dilution of its ownership in Boston Dynamics after a potential initial public offering," Bloomberg reported, citing an analyst note.Shares of Hyundai Motor fell 2.5% at market open in Seoul on Friday.

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Asia

Market Chatter: Hyundai Motor Group's Labor Union to Carry Out Three-Day Strike

The labor union of Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270) plans to conduct a three-day partial strike from Monday, The Chosun Daily reported the same day.The strikes will mark the first temporary halt this year, the report said.The union will carry out a four-hour partial strike over a three-day period, with morning and afternoon shifts stopping work for two hours each. The disruption will also involve sales, maintenance, and logistics workers, the report said.Shares of both Hyundai Motor and Kia fell nearly 2% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Hyundai Motor to Establish Waste-to-Hydrogen Facility in South Korea's Cheongju

Hyundai Motor Group, the parent of Hyundai Motor (KRX:005380) and Kia (KRX:000270), plans to establish a waste-to-hydrogen (W2H) production facility in Cheongju, in South Korea's North Chungcheong province, according to a Thursday release.The new facility, called "HTWO ENERGY Cheongju," is the country's first resource-recycling hydrogen production and charging complex.The 7,500-square-meter plant will produce and supply about 500 kilograms of clean hydrogen per day using biogas extracted from sewage sludge waste generated within the Cheongju region.Shares of Hyundai Motor rose over 4% in recent trade, while those of Kia added nearly 3%.

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Asia

Nomura Adjusts Kia's Price Target to KRW250,000 From KRW240,000, Keeps at Buy

Kia (KRX:000270) has an average rating of buy and mean price target of 229,518.52 won, according to analysts polled by FactSet.

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