Battered Hyundai sees profit fall

Hyundai has faced worker unrest

South Korean carmaker Hyundai has seen a further fall in profits, amid weaker sales and industrial action by workers.

The world's sixth-largest car firm said net profits fell to 307.4bn won ($329m; £165m) in the three months to the end of March, from 342.39bn won a year ago.

Hyundai said higher raw material costs and the continuing strength of the won currency added to the firm's problems.

The earnings setback follows the jailing of Hyundai chairman Chung Mong-koo on embezzlement charges.

Mr Chung was sentenced to three years in jail in February after being accused of amassing a multi-million dollar slush fund for personal use and to pay lobbyists and politicians.

Hyundai said sales fell 2.6% to 6.684 trillion won during the first quarter, although the firm said it expected to see sales improve later this year on increased demand in its home market.

Hyundai workers have been involved in a series of stoppages in an ongoing row over pay.