Hyundai Motor Co. Ltd.’s first quarter net profits slid 28.8% to 417.6 billion won ($347.4 million), a decline Hyundai attributes to the strong won and increased spending on business costs. Foreign exchange exposure and equity losses from subsidiaries contributed to a fall in net non-operating income to 18.7 billion won ($15.8 million) from 280.8 billion won ($238.2 million) year-prior. The South Korean auto maker says it has seen business costs increase in the first quarter, ...
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