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.
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.
Kia 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.