Economy News

Kia's record Q3 revenue meets falling profit: Korea's carmakers squeezed by currency

Kia posted record third-quarter revenue on Friday 30 October. The Korea Herald reports revenue rose 10.1% in July–September to 31.6 trillion won ($23.69bn), the highest third-quarter figure on record, driven mainly by sales of hybrid and other ecofriendly vehicles in key markets including the US, despite weaker industry demand.

Yonhap led with the bottom line instead: Kia's third-quarter net profit fell 9.6% on unfavourable foreign exchange movements. The same day, Hyundai Mobis, the auto parts affiliate of Hyundai Motor Group, reported a 35.7% drop in net profit on lower FX gains.

The results arrived on the same day Seoul shares fell more than 3% in a tech sell-off, which both Yonhap and the Korea Herald covered, adding to a difficult day for Korean investors.

How each outlet framed it

• The Korea Herald — the growth story: a record quarter built on hybrids and an expanding presence in the US.
• Yonhap — the profit story: currency swings eating into earnings across the Hyundai group.

Where the numbers differ: both are correct. Revenue measures how much Kia sold, and that hit a record; net profit, after costs and currency effects, went down.

What we don't know yet: how the Korean won, which strengthened against the dollar on Friday, will affect exporters' fourth-quarter results, and whether US tariffs will weigh further on margins.