Shares of South Korean auto companies rose Tuesday after U.S. Secretary of Commerce Howard Lutnick confirmed that lower U.S. auto tariffs of 15% on South Korea would retrospectively come into effect, starting Nov. 1.

"We are also removing tariffs on airplane parts and will 'un-stack' Korea's reciprocal rate to match Japan and the EU," Lutnick said, according to an X post by the U.S. Department of Commerce.

Carmakers Hyundai Motor and Kia Corp rose nearly 5% and 3%, respectively.

South Korea's Kospi jumped 1.02%, while the small-cap Kosdaq was down 0.13%.

South Korea's headline inflation in November rose 2.4% year on year, according to government data Tuesday, exceeding the 2.35% rise expected by economists in a Reuters poll. Core inflation, which strips out prices of fresh

See Full Page