Aruna Viswanatha, Julia Edwards in Washington, Ben Klayman in Detroit, Hyunjoo Jin and Joonhee Yu in Seoul; Editing by Ros Krasny, Susan Heavey, Peter Galloway, Cynthia Osterman and Ryan Woo

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Hyundai, Kia in record settlement with U.S. for overstating mileage

Korean carmakers Hyundai Motor Co (005380.KS) and affiliate Kia Motors Corp (000270.KS) will pay $350 million in penalties to the U.S. government for overstating fuel economy ratings in what officials said on Monday was the biggest settlement of its kind.

By Aruna Viswanatha, Julia Edwards in Washington, Ben Klayman in Detroit, Hyunjoo Jin and Joonhee Yu in Seoul; Editing by Ros Krasny, Susan Heavey, Peter Galloway, Cynthia Osterman and Ryan Woo