Shares of South Korean steelmakers drop as Trump talks tariffs

HYUNDAI STEEL

10/02/2025 24:02

SEOUL, Feb 10 (Reuters) - Shares of South Korean
steelmakers dropped on Monday, after U.S. President Donald Trump
said he would introduce new tariffs.
    POSCO Holdings  005490.KS  shares fell as much as 3.6% to
230,500 won, the lowest since October 2022, while shares of
Hyundai Steel  004020.KS  fell as much as 2.9% to the lowest on
record. 
    Trump said that he would announce on Monday new 25% tariffs
on all steel and aluminum imports into the United States, which
would come on top of existing metals duties in another major
escalation of his trade policy overhaul.
    Shares of South Korean automakers also weakened, with
Hyundai Motor  005380.KS  down 0.7% and Kia Corp  000270.KS 
down 2%, while the benchmark KOSPI  .KS11  fell 0.5%. 

 (Reporting by Jihoon Lee
Editing by Ed Davies)
 ((jihoon.lee@thomsonreuters.com;))