The Korean government has given Kia Motors Corporation an US$10bn export Tower award for reaching one of the most significant milestones in its history: exceeding $10 billion in export value for the period from July 2004 to June 2005.
Go deeper with GlobalData
The award was presented by South Korean president Roh Moo-Hyun to Kia Motors president and CEO Euisun Chung, at a ceremony on Wednesday morning (30 Novenber).
In a statement, Kia said its recent strong performance can be attributed to a rapidly improving brand profile and popularity among the world’s car buyers that has been driven by the introduction of new models such as the A-segment Picanto, C-segment Cerato and Sportage and Sorento SUVs.
In the first 10 months of 2005, Kia’s overseas retail sales have jumped 25.8% year on year from 542,496 units to 682,571 units.
The latest recognition follows the US$5bn export Tower award in 2003 and last year’s US$7bn export Tower award.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataKia is only the third manufacturing corporation to win the US$10 billion award.
Last March achieved another milestone when it shipped its five millionth export vehicle.
