Power Seat Incident Kills A 2 Year Old Child As Hyundai Recalls Up To 68,500 Palisade Units With Estimated Loss Of Up To 100 Billion Won
According to Korea JoongAng Daily, an incident involving a 2 year old Ohio girl’s death on March 7th 2026 following safety failure of the power seats in Hyundai’s Palisade caused a massive 68,500 unit recall with the cost of the losses amassing to 100 billion Won or $66.8 million approximately.
It is reported by Kim Joon-sung, an analyst at Meritz Securities, that Hyundai Motor’s annual operating profit in 2026 is 12.9 trillion Won so the recall costs only amount to 0.8% of the total operating profit. Thus, the impact of the share price will likely be limited.
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