Profits plummet for Hyundai Motor, mainly due to economic retaliations by China... a
move fuelled by concerns South Korea's missile defense upgrade threatens Beijing's national
security.
Hyundai announced Wednesday its net profit for the first quarter came to about one-point-three
billion U.S. dollars,... a whopping 20-percent on-year dip.
In fact, it was the worst numbers since the Q1 of 2010.
Analysts say the carmaker fared pretty well in the domestic market.
In contrast, Hyundai's sales in China dropped almost by half since last month,... when Beijing
stepped up its restrictions on Korean products.

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