Kia Purchases KRW50 Billion in Hyundai Motor Securities MMT from Affiliate

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Kia (KRX:000270) has purchased 50 billion won worth of Money Market Trust (MMT) securities issued by Hyundai Motor Securities, a special related party, according to a bourse filing on Friday.

The transaction brings Kia's cumulative purchases from the counterparty to 385 billion won for the current fiscal year, with the MMT issued on Sept. 11, and maturing on Oct. 12, at a market interest rate.

The deal was approved by the company's Sustainability Management Committee.

The filing was made under Article 26 of the Fair Trade Act, which governs transactions with related parties.

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