(Seoul = Yonhap News) Reporter Kim Bo-kyung = Hyundai Motor Group expressed relief on the 29th regarding the agreement between Korea and the U.S. in tariff negotiations, which resulted in the reduction of tariffs on Korean exported cars from 25% to 15%, and announced its position that it will do its best to strengthen its competitiveness in the future.

Hyundai Motor Group distributed a statement on the same day, saying,"We would like to express our gratitude to the government for its dedicated efforts to reach an agreement through a difficult negotiation process." They added,"Hyundai Motor Company and Kia will continue to pursue multifaceted measures to minimize the impact of tariffs, while also strengthening their quality and brand competitiveness and technological innovation to further solidify their foundation."

Kim Yong-beom, policy chief, announced the conclusion of the Korea-U.S. tariff negotiations in a briefing following the Korea-U.S. summit and announced that the U.S. tariff on Korean automobile products would be reduced to 15%.