SOUTH KOREA: Kia Q1 profit up; parent Hyundai down on strong R&D spend - report
Hyundai posted a fall in quarterly profits on Tuesday because of a sixfold jump in spending on R&D, aimed at boosting sales with new models, Reuters reported. But it is hoping for a profit rebound later this year on brisk sales of its new models, which include the EF Sonanta sedans, particularly in the United States, where it is increasing sales faster than its Japanese rivals, the news agency said.
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