South Korea’s KOSPI index closed down 1.4%, with Hyundai Motor leading the decline of more than 4%

South Korea’s KOSPI index closed down 1.4% recently, mainly dragged down by automobile and steel stocks. Hyundai Motor’s share price fell more than 4% due to the US’s announcement of a 25% tariff on imported cars, which put pressure on the export competitiveness of Korean automakers. In addition, steel stocks were also affected by weak global demand and changes in trade policies.