Post by Ben on Oct 14, 2004 10:33:11 GMT 8
Established in 1944, Kia is the oldest vehicle manufacturer in Korea. A driving force behind the Korean automotive industry, Kia has been instrumental in propelling the country to fifth in the world in terms of total automotive production.
The Company opened in December 1944 as Kyungsung Precision Industry, making bicycle parts by hand in a small factory in Youngdeungpo, in the south of modern-day Seoul. In March 1952, the infant Kia built Korea's first domestic bicycle, the Samcholli-ho, and changed its name, becoming the Kia Industrial Company. The "Kia" name derives from two Chinese characters "ki" meaning "Rising Up" and "a" meaning Asia. Kia can therefore be roughly translated as "Rising out of the East" or "Rising out of Asia".
A decade later, in October 1961, Kia rolled out the C-100 motorcycle, and the Korean motor vehicle industry was born. Only three months later, Kia's Shiheung production line was building K360 three wheel trucks. Production of three wheel trucks would continue until 1973, by which time the company had sold 25,000 of the vehicles. Motorcycle production ended in 1981.
The Titan four-wheel truck developed in 1971 was so ubiquitous that, in Korea, "Titan" was the generic name used for all trucks. Kia produced Korea's first gasoline engine in 1973 and in October 1974, Korea's first passenger car, the Brisa. The Brisa would later become the first Korean vehicle to be exported, when it was sold in the Middle East. Korea's first diesel engine was also produced by Kia in 1978.
By 1979, Kia was producing under license the Peugeot 604 and the Fiat 132 sedans. In 1986, under an equity partnership with Ford Motor Company, Kia began producing the Pride, or Festiva, small car. Development of the Pride was carried out at Kia's first dedicated R&D centre, which was opened in October 1984 in Sohari, near Seoul. It has since been joined by two domestic and four overseas R&D centres. The first overseas R&D centre was opened in Japan in 1989.
In 1992, Kia established its U.S. Subsidiary, Kia Motors America. European operations began in 1993, with the launch of the Sephia Passenger car.
In 1997, the weight of its investments exacerbated by the Asian Financial crisis rendered Kia Motors insolvent and the company went into receivership. The takeover of Kia by Hyundai Motors in 1998, marked the beginning of a rapid turnaround. By 1999, Kia was profitable once more and has remained so ever since. The formation of the Hyundai Automotive Group in September 2000 saw Kia begin to benefit from synergies in research and servicing.
In 2002, Kia produced its ten millionth car. Today, Kia does 60% of its business overseas. Landmark models such as the Carnival/Sedona minivan and the Sorento premium SUV are propelling Kia rapidly forward in terms of product quality and consumer appeal. The company also became the major sponsor of the Australian Open Tennis Tournament in 2002.
Indeed, just 4 years after it looked on the brink of failure, Kia's future has never looked brighter.
- Extracted from Kia International Website
The Company opened in December 1944 as Kyungsung Precision Industry, making bicycle parts by hand in a small factory in Youngdeungpo, in the south of modern-day Seoul. In March 1952, the infant Kia built Korea's first domestic bicycle, the Samcholli-ho, and changed its name, becoming the Kia Industrial Company. The "Kia" name derives from two Chinese characters "ki" meaning "Rising Up" and "a" meaning Asia. Kia can therefore be roughly translated as "Rising out of the East" or "Rising out of Asia".
A decade later, in October 1961, Kia rolled out the C-100 motorcycle, and the Korean motor vehicle industry was born. Only three months later, Kia's Shiheung production line was building K360 three wheel trucks. Production of three wheel trucks would continue until 1973, by which time the company had sold 25,000 of the vehicles. Motorcycle production ended in 1981.
The Titan four-wheel truck developed in 1971 was so ubiquitous that, in Korea, "Titan" was the generic name used for all trucks. Kia produced Korea's first gasoline engine in 1973 and in October 1974, Korea's first passenger car, the Brisa. The Brisa would later become the first Korean vehicle to be exported, when it was sold in the Middle East. Korea's first diesel engine was also produced by Kia in 1978.
By 1979, Kia was producing under license the Peugeot 604 and the Fiat 132 sedans. In 1986, under an equity partnership with Ford Motor Company, Kia began producing the Pride, or Festiva, small car. Development of the Pride was carried out at Kia's first dedicated R&D centre, which was opened in October 1984 in Sohari, near Seoul. It has since been joined by two domestic and four overseas R&D centres. The first overseas R&D centre was opened in Japan in 1989.
In 1992, Kia established its U.S. Subsidiary, Kia Motors America. European operations began in 1993, with the launch of the Sephia Passenger car.
In 1997, the weight of its investments exacerbated by the Asian Financial crisis rendered Kia Motors insolvent and the company went into receivership. The takeover of Kia by Hyundai Motors in 1998, marked the beginning of a rapid turnaround. By 1999, Kia was profitable once more and has remained so ever since. The formation of the Hyundai Automotive Group in September 2000 saw Kia begin to benefit from synergies in research and servicing.
In 2002, Kia produced its ten millionth car. Today, Kia does 60% of its business overseas. Landmark models such as the Carnival/Sedona minivan and the Sorento premium SUV are propelling Kia rapidly forward in terms of product quality and consumer appeal. The company also became the major sponsor of the Australian Open Tennis Tournament in 2002.
Indeed, just 4 years after it looked on the brink of failure, Kia's future has never looked brighter.
- Extracted from Kia International Website