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Hyundai Motor announced on Thursday that its operating profit for the second quarter plummeted approximately 16% year-on-year to KRW 3.6 trillion (approximately $2.64 billion). This decline was attributed to the increasing burden of tariffs imposed by the United States on automobiles and automotive parts. The company cautioned that the impact in the current quarter could be even more pronounced, with projected losses reaching KRW 828 billion (around $606 million). Despite this, Hyundai Motor remains committed to its annual profit target but intends to revise the relevant plans following the August 1 deadline for the reciprocal tariffs to come into effect. Compared to the same period last year, operating profit has declined from KRW 4.28 trillion, underscoring the substantial influence of tariffs on the company's financial performance.
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