Salem Radio Network News Monday, March 27, 2023


Shares of Kia down 1.3% after booking additional $1.1 billion provision

SEOUL (Reuters) – Shares of South Korea’s Kia Corp fell more than 1% on Wednesday after the automaker said on Tuesday that its third-quarter earnings will reflect an additional provision of 1.54 trillion won ($1.08 billion) as it continues to suffer the effects of engine recalls from years ago.

The benchmark KOSPI was trading up 0.01% as of 0005 GMT.

($1 = 1,424.6400 won)

(Reporting by Heekyong Yang and Joyce Lee; Editing by Kim Coghill)


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Steve Breen
Sun, Mar 26, 2023