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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'
(www.kiamotors.com, History at Glance)
1. Introduction
The arrival of a number of foreign investors is a confirmation that Slovakia is one of the most attractive locations in central Europe. In this report, we will be looking at the reasons why Kia Motors, a Korean automobile manufacturer, chose to begin a greenfield investment in Slovakia rather than their main opponents, Czech Republic, Hungary and Poland.
2. Company Outline
Name: KIA MOTORS CORPORATION
Major Products: Automobiles
Industry Classification: Transport equipment
Date of Establishment: December 11, 1944
Amount of Capital: 1.85 trillion Won (USD1.54 billion)
Number of Employees: 31,196
(www.kiamotors.com)
Kia was established in 1944 in Seoul, and is the oldest vehicle manufacturer in Korea. It started as a family business, hand-making bicycle parts. Making their first motorcycle C-100 was recorded as a birth of Korean vehicle industry in 1961.
The following developments and products were in:
1962 - "K360" the first 3-wheel truck
1971 - "Titan" 4-wheel truck
1973 ? first gasoline engine
1974 ? Korea's first passenger car "Brisa", first to be exported and sold in Middle East
1978 ? Korea's first diesel engine, produce by Kia
1978 - Kia producing under licenses the Peugeot 604 and Fiat 132 sedan
1989 - The first overseas R&D centre was opened in Japan