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[Alpha Biz=(Chicago) Reporter Kim Jisun] Kia surpassed Hyundai Motor's market capitalization for the first time in 23 years and settled in fifth place in the KOSPI rankings.
According to the Korea Exchange on the 31st, Kia's stock price reached 102,900 won at the closing price. It rose 5.00% from the previous trading day and rose 17.1% compared to the stock price (87,900 won) a week ago on the 24th.
Kia's market capitalization is 41.37 trillion won, ranking fifth in terms of KOSPI market capitalization (excluding Samsung Electronics preferred stocks). It has surpassed Hyundai Motor's market capitalization (41.164 trillion won) in 23 years since 2001.
Kia's rise in stock prices is attributable to its record-high earnings and shareholder return policies. Kia announced its 2023 management performance on the 25th. Sales reached 9.8084 trillion won and operating profit of 11.6079 trillion won. Sales and operating profit rose 15% and 61%, respectively, year-on-year.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
