Hyundai Motor Stock Plunges 49.61% in Six Months as Foreign Investors Dump 10.88 Trillion KRW

According to Herald Economics, Hyundai Motor's stock fell to 399,000 KRW today (July 21), marking a 49.61% decline from its all-time high of 783,000 KRW set six months earlier. The sharp selloff was triggered by massive foreign investor outflows, with international holdings slumping from 35.95% to 25.17% year-end, as overseas investors dumped 10.88 trillion KRW in shares so far this year.

Second-quarter earnings expectations have also been downgraded. KB Securities and Mirae Asset Securities forecasted Q2 operating profit at 2.71 trillion KRW and 2.86 trillion KRW respectively, both below the consensus estimate of 3.02 trillion KRW. The downgrades reflect production setbacks from a component supplier fire in March and supply disruptions at the Turkey plant.