Kia
History
!Kia's South Korean factories
Origins and the early expansion
Prior to the forced 1981 shutdown, Kia had rounded out its passenger car lineup with two other foreign models assembled under license: the Fiat 132 and the Peugeot 604. The import of these knock-down kits was permitted as long as Kia exported five cars for every single Fiat or Peugeot brought in (Hyundai had to meet the same requirement).
Hyundai Motor Company takeover
Kia declared bankruptcy in 1997, during the Asian financial crisis, and in 1998 reached an agreement with Hyundai Motor Company to diversify by exchanging ownership between the two companies. Hyundai Motor Company acquired 51% of the company, outbidding Ford Motor Company, which had owned an interest in Kia Motors since 1986. After subsequent divestments, Hyundai Motor Company owns about one third of Kia Motor Corporation. While Hyundai Motor Company remains Kia's largest stakeholder, Kia Motor Company also retains ownership in some 22 Hyundai Motor Company subsidiaries.
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