Kia Motors, the largest automobile manufacturer in Korea, second to Hyundai, saw its inception way back in However, the history of Korea goes way back to , when the company manufactured bicycle parts and steel pipes by hand and was recognized throughout Korea as the “Kyungsung Precision Industry”. Learn about the history of Kia Motors, and see why Kia continues to such a popular brand. Bidding starts on South Korea's Kia Motors Corp. Founded on the outskirts of Seoul in , Kia began as a small manufacturer of steel tubing and bicycle parts. The name of the company was derived from the Chinese characters “ki” (meaning “to arise” or “to come out of”) and “a” (which stood for Asia).
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Gradually, Kia diversified, taking on the assembly of motorbikes, then trucks, and finally cars in the s.
The History of Kia Motors
Kia built its first auto assembly plant in and released its first car, the Brisa, in A huge turning point in Kia history happened in the kia motors history s. InKia would get caught up in the Asian kia motors history crisis that would cause Kia to file for bankruptcy.
By Kia would become the fifth largest import brand and would sellvehicles during that year. Kia Motor sales worldwide begin to increase rapidly it is now sold in countries. Today Kia employees over 43, individuals worldwide introduces 1.
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By the mids Kia was selling aboutcars annually, still mostly in South Korea. A major breakthrough for Kia occurred inhowever, kia motors history it started shipping automobiles to the largest single international car market, the United States.
Kia reached an agreement to supply Ford with its Festiva model. The Festiva was a "microcar" aimed at the low-end buyer. Kia planned to ship about 70, units kia motors history for Ford and a like number of the cars to other countries.
History of Kia Motors
Kia's arrangement with Ford reflected its strategy, first evident in the mids, to gradually assume Japan's role as the leading supplier of low-end economy cars.
By kia motors history mids, in fact, it was clear to Kia executives that Japan was reducing its emphasis on low-priced cars and focusing on higher-priced, high-profit vehicles. Rival Hyundai had also observed the trend, as evidenced by its jump into the North American car market.
Kia planned to use its low-cost production advantages to fill the void. Kia's greatest edge in comparison to U.
Bidding starts on South Korea’s Kia Motors Corp.
Indeed, until the late s Kia paid its workers a mere fraction of what their foreign counterparts earned. The savings were mirrored kia motors history cars like the Festiva, which enjoyed steady demand as a result of their extremely low prices.
Over a period of about five years, Kia shippedFestivas to Ford. In addition to its low labor costs, Kia continued to benefit throughout the s from rigid trade barriers imposed by its home country. Overseas producers had previously paid little attention to the restrictions kia motors history of the comparatively small size of the Korean market.
By the late s, however, foreign governments were pressuring South Korea to open its markets. The inequity was undeniable.
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Infor instance, a total of foreign cars were sold in South Korea. During the same year the country exported more than half a million automobiles, most of which were made by Hyundai and Kia. The government lifted some barriers in andbut imposed less obvious restrictions. Nevertheless, foreign producers made inroads in the South Korean market during kia motors history early s.
Labor Problems and the End of Chaebols in the s Besides proliferating domestic competition, Kia also suffered kia motors history the late s and early s from labor problems.
Fed up with low pay and kia motors history working conditions, South Korea's workers rebelled during the period.
Union strikes forced many companies, including Kia, to significantly raise wages. The labor kia motors history was actually just one part of a much larger movement begun in the s to dismantle South Korea's political and economic framework.
Since the mids, in particular, the government had kia motors history working to decentralize. A corollary of that effort was the diminished dominance of the chaebols. Two years later, the accumulated production rates reach the 10 million mark and the new Regal, Optima, and Sorento made their debut at the Geneva Car Show.