News: Kia Motors receives $10 billion Export Tower Award
(SEOUL) November 30, 2005 -- Kia Motors Corporation today announced that it has received the $10 Billion Export Tower Award from the Korean government, thereby reaching one of the most significant milestones in its history -- surpassing $10 billion in export value for the period from July of 2004 to June of the current year. The award was presented by South Korean President Roh Moo-Hyun to the President and CEO of Kia Motors, Euisun Chung, at a ceremony held this morning at the COEX convention center in southern Seoul to celebrate Korean export successes. Much of Kia¡¯s recent strong performance can be attributed to a rapidly improving brand profile and popularity among the world¡¯s auto consumers that has been driven by the introduction of many all-new models including the A-segment Picanto, C-segment Cerato and Sportage and Sorento SUVs. Kia Motors President & CEO Euisun Chung said, ¡°This award is a clear testament to the growing number of loyal customers who are quickly realizing that our new line-up of high quality, stylishly designed cars with a multitude of advanced safety and convenience features just can¡¯t be beat.¡± ¡°With this year¡¯s introduction of the all-new B-segment Rio, Carnival MPV and D-segment Magentis, coupled with numerous all-new and face-lift models to be launched in 2006, customers will continue to be rewarded by our unrelenting product innovation and commitment to excellence,¡± he added. Kia Motors continues to post positive sales growth in every major region of the world. In fact, through the first 10 months of 2005, overseas retail sales have jumped from 542,496 units to 682,571 units compared to the same period of last year for a year-on-year increase of 25.8%. This latest recognition comes on the heels of the US$5 Billion Export Tower Award in 2003 and last year¡¯s US$7 Billion Export Tower Award, thereby illustrating the tremendous pace at which the Kia brand has flourished in overseas markets. And in fact, Kia Motors is only the third manufacturing corporation to receive this US$10 billion export distinction. Earlier this year in March, Kia celebrated another historic milestone when it surpassed the 5 million cumulative export mark. Kia Motors Corporation www.kiamotors.com one of the fastest growing automakers in the world - - was founded in 1944 and is Korea¡¯s oldest manufacturer of motor vehicles. As part of the Hyundai-Kia Automotive Group, Kia aims to become one of the world¡¯s premier automotive brands. Kia¡¯s 16 manufacturing and assembly operations in 12 countries produce more than 1.1 million vehicles a year that are sold and serviced through a network of distributors and dealers covering 155 countries. Kia today has over 32,000 employees and annual revenues of $14 billion. It is the major sponsor of the Australian Tennis Open and an official worldwide sponsor of the Davis Cup. Kia Motors Corporation¡¯s brand slogan -- ¡°The Power to Surprise¡± -- represents the company¡¯s global commitment to surpassing customer expectations through continuous automotive innovation.