Kia

Kia, formerly known as Kyungsung Precision Industry and Kia Motors Corporation, is a prominent South Korean multinational automobile manufacturer headquartered in Seoul. As of 2019, it stands as South Korea's second-largest automaker, surpassing sales of over 2.8 million vehicles. Kia is a subsidiary of Hyundai Motor Company, with Hyundai holding a 33.88% stake valued at just over US$6 billion. Moreover, Kia holds minority ownership in more than twenty Hyundai subsidiaries, with stakes ranging from 4.9% to 45.37%, totaling over US$8.3 billion. The name ""Kia"" is derived from the Sino-Korean characters 起 (ki, 'to arise') and 亞 (a, representing 亞細亞, meaning 'Asia'). Translated, it signifies ""Rising from (East) Asia."" Founded on June 9, 1944, as Kyungsung Precision Industry, Kia initially specialized in manufacturing steel tubing and bicycle parts. The company achieved a milestone in 1951 by producing Korea's first domestic bicycle, the Samchuly. Over the years, Kia underwent name changes, becoming Kia Industries in 1952. It ventured into Honda-licensed small motorcycles in 1957 and Mazda-licensed trucks and cars in 1962 and 1974, respectively. The pivotal moment came in 1973 with the establishment of the Sohari Plant, Kia's first integrated automotive assembly plant. However, due to industry consolidation enforced by the military dictator Chun Doo-hwan in 1981, Kia shifted focus from passenger cars to light trucks. Despite challenges, Kia's resilience allowed it to adapt, and it resumed limited car production in 1982 and 1983. Today, Kia stands as a testament to adaptability and innovation in the automotive industry, with a rich history that reflects its evolution from bicycle parts manufacturer to a major player in the global automotive market.