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Storming to the forefront in the Driving World
2003 ANNUAL REPORT

Table of contents

  • Page 1
    2003 ANNUAL REPORT Storming to the forefront in the Driving World

  • Page 2
    Going global, and going for the top. All out. 2003 Annaul Report This annual report cont ains perf ormance result s, f inancial dat a as w ell as t he business out look and st rat egies of KIA M OTORS Corp. The st at ement s herein represent M anagement's objective judgment, but KIA M OTORS' ...

  • Page 3
    ... cent ury. Wit h Kia, you can experience t he pride of leadership in being t he best . Table of Contents _ 02 Profile 04 Chairman's M essage 06 President's M essage 12 2003 at a Glance 14 Domestic Business 16 Overseas Business 24 Production & Quality 26 Research & Development 28 M arketing 32 IR...

  • Page 4
    Ch a i r m a n ' s M e ssa g e Kia M otors Corporation Chairman & CEO, Mong-Koo Chung 04 Kia M otors Corporation

  • Page 5
    ... w ill be marked by consolidation and expansion of our global enterprise. We w ill secure the resources required to be a major global player by continuing to raise our brand value, develop our human resources and grow operations, w hich w ill allow us to be a global player. 2003 Annual Report 05

  • Page 6
    ... ∙Improve fundamental relations through labor-management cooperation Put People First ∙Secure the global specialists needed to run diverse overseas operations ∙Efficiently allot support for core human resources ∙Hire topnotch engineers to develop hit models 06 Kia M otors Corporation

  • Page 7
    ... the capacity expansion of our Gw angju plant to 350,000 unit s a year and relocat ed our research cent er, maximizing t he synergy of our new 01 02 03 product development competencies. We have also established a mid /long term brand strategy for enhancing our brand value significantly. Certainly...

  • Page 8
    ... and shareholders' equity 5,342,179 11,211,132 4,093,684 9,112,648 3,393,016 8,438,466 Summarized Non Consolidated Statements of Income (Korean w on in millions) 2003 Sales Cost of sales 2002 12,158,113 9,581,392 2001 11,129,204 8,531,616 12,839,881 10,084,078 Gross profit Selling and...

  • Page 9
    ... quality, implementing marketing strategies for Operat ing Income (Korean w on in billions) launching new models and ensuring steady grow th in overseas markets. M eanw hile, this year marks the opening of a new chapter in Kia M otors' global operation. Our 812.4 658.5 522.2 Chinese plant w ill...

  • Page 10
    ... production and marketing effort. Kia M otors' global expansion continues to accelerate w hile the brand name is steadily enjoying broader recognition. Leading testing institutions around the w orld have endorsed Kia's product quality and consumer love of the company's special services. The company...

  • Page 11
    ...Any car fine enough to lead the times provides special satisfaction. The Opirus boasts the magnificent styling, cutting edge technology and extravagant interior to be the trendsetter today. This is the ultimate sedan the standard to w hich all other sedans aspire. >> Regal Proud to Be the Best The...

  • Page 12
    ... to US$9,400 in 2001, US$9,800 in 2002, and on t o US$11,200 in 2003. Such a sharp rise in price is largely due to expansion of value added models. SUVs and large size passenger cars are occupying a great er port ion of t he sales m ix, w hich once alm ost exclusively 12 Kia M otors Corporation

  • Page 13
    ... t he opening of t he " Europe Technical Hotline," an internet resource providing real time support on technical issues to service managers and mechanics from overseas sales centers and dealerships. The Hotline w as designed to maximize customer satisfaction by enabling overseas servicing staff to...

  • Page 14
    D o m e st i c Bu si n e ss Sluggish Domestic Demand and Shrinking Passenger Vehicle Sales Required a New Approach 14 Kia M otors Corporation

  • Page 15
    ... vehicle market w ith the Cerato, Opirus and M orning. The strong Kia brand in the RV segment w ill be maintained, and the company' s number tw o position in Korea w ill be strengthened. Kia w ill also develop new models that can compete effectively w ith surging imports of foreign cars into Korea...

  • Page 16
    O v e r se a s Bu si n e ss Differentiation Strategy Vanquishes Adversity 500,000 Cars Exported, Amounting to US$5 Billion 16 Kia M otors Corporation

  • Page 17
    ..., the company w ill focus on launching the Picanto, Cerato, Opirus, KM and small sized commercial vehicles; boosting brand image through stepped up corporate advertising, and strengthening sports marketing through the sponsorship of the Australian Open and the Davis Cup tennis tournaments. Sales...

  • Page 18
    ...the World's Best in the World's Largest Market Kia M otors America Inc. Regional HQ • Location : Western Region(Irvine, CA) • No. of Dealers : 133 • Location : Eastern Region HQ (Philadelphia, PA) • No. of Dealers : 174 • Location : Central Region HQ (Chicago, IL) • No. of Dealers : 139...

  • Page 19
    ... strikes in September and October. 01 02 03 Boosting Brand Value through Product Quality A survey conducted by J. D. Pow er and Associates, the American automobile market research firm, revealed that the repeat buy rate of Kia products has quintupled over the past tw o years to 50% . Kia Sales...

  • Page 20
    ... Prominence in the European Automotive Market Regional HQ • KM E : Kia M otors Europe (Bremen, Germany) KM S Europe Sales Subsidiaries • KM D : Kia M otors Deutschland (Frankfurt, Germany) • KM UK : Kia M otors United Kingdom • KM AS : Kia M otors Austria • KM BL : Kia M otors Belgium...

  • Page 21
    ... first opened in Germany, Austria and the UK in January 2003 and is now available across Europe. This w ebsite provides real time technical support to managers and mechanics at overseas sales centers and dealer service centers. In 2004, the Customer Assistance Center w ill be launched to Sales...

  • Page 22
    ...US$ 35 million • Ow nership : 50% • Capacity : 50,000 units p.a. (2003YE) Planned expansion to 130,000 units by 2004 • Product Focus : Small / compact passenger cars / M ini Van • Other Shareholders : Yueda Group (25% ) Dongfeng (25% ) Beijing Yancheng Shanghai 22 Kia M otors Corporation

  • Page 23
    ...bold incentives and drastic price reductions offered by big name competitiors. 23,138 CBU Tianlima Pride Continued Success Expected Kia w ill exploit its current momentum in China, a strategically important, high grow th market. The company w ill int roduce a new Carnival model in t he second half...

  • Page 24
    Pr o d u ct i o n & Q u a l i t y Beyond Quantity, Kia to Focus on Building Brand Value as a maker of High-end Automobiles 24 Kia M otors Corporation

  • Page 25
    ... Research and Development Center, jointly operated by Kia M otors and Hyundai M otor, has m ade qualit y enhancem ent it s t op priorit y. The state of the art facility boasts some of the best engineers in the business. Ut ilizat ion Rat e Slight Decline in Overall Output, but Stepped up Sorento...

  • Page 26
    Re se a r ch & D e v e l o p m e n t A Promise to Deliver Vehicles that Exceed Customer Expectations 26 Kia M otors Corporation

  • Page 27
    ... vehicles already in mass production to better satisfy local market requirements. The Center conducts a broad range of research on both Kia and Hyundai models, and the tw o companies w ill certainly benefit from the synergy created in such a collaborative environment. Some 100 Korean and American...

  • Page 28
    M arketing Innovative Marketing Approaches to Maximize Product Value 28 Kia M otors Corporation

  • Page 29
    ... been carefully assessed, and global brand identity strategies are now being developed. Once these are in place, brand management and brand asset management systems are planned. Tokyo M otor Show Sport s M arket ing Event Australian Open Tennis Championship Davis Cup Korean National Ski Team Tour...

  • Page 30
    ... consulting firm, made the Sorento its top pick in the 2003 Total Quality Index for the mid sized SUV category and praised the vehicle in the New York Times. The Sorento ' s superior quality and price competitiveness has made it an important component in Kia' s global advance. Kia's determination...

  • Page 31
    ... The Cerato is setting new trends in near mid sized sedans, coupling sexy styling and responsive handling w ith a luxurious interior. This car promises a driving experience that w ill exceed all expectations. >> Rio SF Sedan w ith Top class Safety A buyer' s decision is made w ith extra care w hen...

  • Page 32
    ...Deal Road Show in Asia 3rd Quarter Business Results Briefing M ay 1st Quarter Business Results Briefing S&P Corporate Credit Ratings Review 2004 IR Strategies Increase market value (share price) Raise outsider confidence (higher credit rating) Strengthen internal competencies ∙Build IR support...

  • Page 33
    ... of Kia M otors stock moved along w ith the composite price index early in 2003, but fell below the average rate of share price changes from July. Kia shares indicated the first signs of a rebound in October and w ere back on pace w ith the overall market by year' s end. The reasons Continued labor...

  • Page 34
    ... w as honored as the best mid size SUV in the 2003 M otorw eek Drivers' Choice Aw arda, part of a w eekly program aired on the US channel PBS. M eanw hile, the Carnival w as selected as the best mini van by Car Book ; and the Sorento scored high in all rating categories. 34 Kia M otors Corporation

  • Page 35
    ... on new model development, strengthened overseas dealer netw ork and ongoing quality improvement. The market responded enthusiastically to the Opirus and Cerato in 2003, and Kia M otors is aiming for more great hits in the coming year. The economical Picanto; the CT, w hich is a Pregio upgrade; and...

  • Page 36
    ... a system for environment friendly vehicles to meet the requirements of ever stricter environmental Pract ice Reduce pollut ion emissions and w ast e generat ion, pract ice green procurement and product ion environmental management at points of contact w ith customers. 36 Kia M otors Corporation

  • Page 37
    ... research building. The Center w ill help develop products thatcomply w ith domestic and international environmental regulations, conduct research on environmental technology, and play a key role in Hyndai Kia' s ambitions to become the w orld ' s fifth largest automaker Research areas w ill...

  • Page 38
    ... Kia management learned the team w as having problems in getting to their games aw ay from the home stadium. The Kia Tigers, a prof essional baseball t eam, also has Gw angju as it s home base and one of Kia' s t hree domest ic plant s is locat ed in t he southw estern Korean city. Special Help...

  • Page 39
    ... Donga University Hospital the funds collected at the Kia booth during the Busan International M otor Show in October. The funds w ere reaised to help families of children suffering from cancer. Gifts to Orphans Employees from the Kia Domestic Sales Division and Sohari Customer Center donated funds...

  • Page 40
    ... w ho value roominess and safety. Kia's corporate interests are not confined to the automotive industry. The company is committed to fulfilling all social obligations as a global corporation to help make the w orld a better place. Kia sponsors m ajor int ernat ional sport ing event s t o solidif...

  • Page 41
    ...a Beautiful Performer M ore than pow erful, the Sorento is beautiful. Curtain type airbags and upgraded features take safety and luxury to new heights for added value and greater satisfaction. >> Carnival II Korea's Best selling M inivan The Carnival II promises stability and reliability under all...

  • Page 42
    ...domest ic passenger car fell 2.7% points to 23.8% during 2003. On the other hand, Kia retained the top share of the Korean RV (SUV/M PV collectively) market even though the number of units sold w as dow n 21% year on year. Performance w as buoyed by the robust sales of the Sorento, Carens and X-Trek...

  • Page 43
    ... competitiveness from successful new models, overall better quality, and an 2.6% Full Size Passenger 0.5% 0.3% improved cost structure. The steadily rising profitability w ill continue in the future. The number of total units sold in 2003 w as low er than the 2002 figure, and the Won/Dollar rate...

  • Page 44
    ...& Analysis shifted from the Head Office to Eurpean subsidiaries, and also the costs for proactive vehicle inspections increased as the company w orked to correct problems before they became customer complaints. In addition, improved product quality low ered w arranty claims in North America, w hich...

  • Page 45
    ... Rat io smooth parts supply and boost exports caused long-term investment securities and equity method gains to grow 214.4 billion year on year. Increases in the share prices for marketable securities such as 819.4 billion to almost 1.12 trillion at the end of Hyundai M obis also helped to boost...

  • Page 46
    ... Translation of a Report Originally Issued in Korean To the Shareholders and Board of Directors of Kia M otors Corporation: We have audited the accompanying non consolidated balance sheets of Kia M otors Corporation as of December 31, 2003 and 2002, and the related non consolidated statements...

  • Page 47
    ... in the Republic of Korea to audit such financial statements may differ from those generally accepted and applied in other countries. Accordingly, this report and the accompanying financial statements are intended for use by those know ledgeable about Korean accounting procedures and auditing...

  • Page 48
    ... 2003 AND 2002 Korean w on (in millions) Translation into U.S.dollars (in thousands) 2003 ASSETS Current assets: Cash and cash equivalents Short term financial instruments M arketable securities (Note 6) Trade notes and accounts receivable, net of unamortized present value discount of 771 million...

  • Page 49
    ...dollars (in thousands) 2003 LIABILITIES AND SHAREHOLDERS EQUITY Current liabilities: Short term borrow ings (Note 11) Current maturities of long term debt and debentures, net of discount on debentures issued of 571 million in 2003 and nil in 482,138 1,674,366 259,415 475,937 157,232 789,942 2002...

  • Page 50
    ... AND 2002 Translation into U. S. dollars (in thousands, except per share amounts) Korean w on (in millions, except per share amounts) 2003 Sales (Note 24) Cost of sales 12,839,881 2002 12,158,113 2003 10,719,555 2002 10,150,369 10,084,078 9,581,392 8,418,834 7,999,157 Gross profit 2,755...

  • Page 51
    ... OF RETAINED EARNINGS FOR THE YEARS ENDED DECEM BER 31, 2003 AND 2002 Korean w on (in millions) Translation into U.S. dollars (Note 2) (in thousands) 2003 Unappropriated retained earnings: Beginning of year Stock retirement as a deduction of retained earnings (Note 14) Net income (88,742) 705...

  • Page 52
    ...of present value discount, net Compensation expenses on stock options, net Loss on valuation of derivatives Loss on disposal of accounts receivables M iscellaneous loss Changes in operating assets and liabilities: Decrease in trade notes and accounts receivable Decrease (Increase) in long term notes...

  • Page 53
    ...from investing activities: Acquisition of marketable securities Acquisition of short term financial instruments Additions to other current assets Acquisition of long term investment securities Acquisition of equity securities accounted for using the equity method Acquisition of investments Additions...

  • Page 54
    ... s from financing activities: Repayment of short term borrow ings Repayment of current maturities of long term debt and debentures Repayment of long term debt and debentures Acquisition of treasury stock Payment of cash dividend Other 4,882 88,742 92,023 2,292 112,630 2002 2003 2002 11,809...

  • Page 55
    ... Kw angju factory. The shares of the Company have been listed on the Korea Stock Exchange since 1973. Overseas subsidiaries f or export sales include Kia M ot ors America, Inc. (KM A) in America, Kia Canada, Inc. (KCI) in Canada, Kia M ot ors Deutschland GmbH (KM D) and Kia M otors Europe GmbH (KM...

  • Page 56
    ... of sale based on actual claims history. In addition, the Company recognizes accrued liabilities of the provision for the projected costs for dismantling and recycling vehicles that the Company sold in the European Union region to comply w ith a European Parliament directive regarding End of Life...

  • Page 57
    ... is not available, the market prices of the securities purchased are used as the basis for measurement. If neither the market price of the consideration given nor those of the acquired securities are available, the acquisition cost is measured at the best estimates of its fair value. After initial...

  • Page 58
    ... Pension Law , the Company and its employees each pay 4.5 percent of monthly pay to the Fund. Stock Options The Company computes total compensation expense to stock options, w hich are granted to employees and directors, by fair value method using t he opt ion pricing model. The compensat ion...

  • Page 59
    ... common shares computed using treasury stock method (352,306 shares in 2003) is added to the diluted number of common shares. Stock options granted to employees and directors as of December 31, 2002 have no dilutive effect on ordinary income per share and earnings per share. 2003 Annual Report 59

  • Page 60
    ... 1,237,217 1,032,908 (2) Available for sale securities included in long term investment securities as of December 31, 2003 consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Acquisition cost Listed equity securities: Hyundai M OBIS INI Steel Co., Ltd. LG...

  • Page 61
    ... follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Acquisition cost Government and municipal bonds Corporate bonds: Acrow ave Co., Ltd. Subordinated bonds: Seoul Guarantee Insurance Company 16,200 89 10,213 Present value discount Book value 10,213 Book value 8,526 89...

  • Page 62
    ... of the outstanding shares; accordingly, the Company applied the equity method. Equity securities are valued based on the unaudited financial statements w ith adjustments made for the effects of any significant events or transactions. Also, significant unrealized profit (loss) on intercompany...

  • Page 63
    .... Equity securities accounted for using the equity method as of December 31, 2002 consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Acquisition cost Kia M otors America, Inc. Kia Canada, Inc. Kia M otors Deutschland GmbH Kia M otors Europe GmbH Kia Japan...

  • Page 64
    ...CONSOLIDATED FINANCIAL STATEM ENTS DECEM BER 31, 2003 AND 2002 (2) The changes in goodw ill or negative goodw ill incurred from the equity securities of affiliates subject to equity method accounting for the year ended December 31, 2003 are as follow s : Korean w on (in millions) U.S. dollars (Note...

  • Page 65
    ... Auto Co., Ltd. Beijing Hyundai M obis Automotive Parts Co., Ltd. TRW Steering Co., Ltd. Dymos Inc. e HD.com Inc. Hyundai Hysco Co., Ltd. Autoever Systems Co., Ltd. Hyundai card Co., Ltd. EUKOR Car Carriers, Inc. Yan Ji Kia M otors A/S (* ) NGVTEK Com (* ) Kia Service Philippines Co.(* ) EUKOR...

  • Page 66
    ... method for the year ended December 31, 2002 are as follow s : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Beginning of period Kia M otors America, Inc. Kia Canada, Inc. Kia M otors Deutschland GmbH Kia M otors Europe GmbH Kia Japan Co., Ltd. PT. Kia Timor M otors Dong feng Yueda...

  • Page 67
    ...,257 120,995 (5) The Company has pledged the follow ing equity securities accounted for using the equity method as collateral for long term borrow ings as of December 31, 2003 : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Number of shares pledged EUKOR Car Carriers, Inc. EUKOR...

  • Page 68
    ... 31, 2002 consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Acquisition cost Corporate bonds: Kia Steel Co., Ltd. Acrow ave Co., Ltd. Subordinated bonds: Seoul Guarantee Insurance Company 16,200 32,698 89 Present Value Discount Book value Book value 16...

  • Page 69
    ... 3,478,757 The changes in property, plant and equipment in 2003 are as follow s : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Beginning of period Land Buildings and structures M achinery and equipment Vehicles Dies, molds and tools Other equipment Construction in progress End...

  • Page 70
    ...31, 2003 AND 2002 The changes in property, plant and equipment in 2002 are as follow s : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Beginning of period Land Buildings and structures M achinery and equipment Vehicles Dies, molds and tools Other equipment Construction in progress...

  • Page 71
    ...31, 2002 consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Acquisition cost Industrial property rights Right of utilization Development costs 7,531 18,662 335,541 Accumulated amortization 3,715 5,690 52,605 Book value 3,816 12,972 282,936 Book value 3,186...

  • Page 72
    ...consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) 2003 Long term deposits Long term trade notes and accounts receivable, net of unamortized present value discount of 1,446 million in 2003 and 2002 (see Note 2) Lease and rental deposits Other 2,369 million in...

  • Page 73
    ...: Korean w on (in millions) U.S. dollars (Note 2) (in thousands) 2003 Reorganization claims: Korea Development Bank Kyobo Life Insurance Co. SG ABS Ltd. Korea Development Leasing Corp. Hanaro Finance Korea Investment Trust Co., Ltd. Nara Banking Hyundai Investment & Securities Korea Seoul Guarantee...

  • Page 74
    ... from export sales discounted w ith recourse 1,229,074 million (US$1,026,109 thousand). amounts to (2) The Company uses a customer financing system related to a long term installment sales system and has provided guarantees of 48,272 million (US$40,301 thousand) to the banks concerned as...

  • Page 75
    ... for projected costs for dismantling and recycling vehicles sold in corresponding countries to comply w ith European Parliament directive regarding End of Life vehicles (ELV). 14. CAPITAL STOCK : Capital stock as of December 31, 2003 and 2002 consist of the follow ing : U.S. dollars (Note 2) (in...

  • Page 76
    ... 31, 2003 and 2002 consist of the follow ing : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) 2003 Treasury stock Loss on valuation of derivatives Stock option cost Gain on valuation of long term investment securities Gain (Loss) on valuation of equity securities accounted for using...

  • Page 77
    ... at least tw o year continued service, are exercised treasury stock w ill be issued in accordance w ith the decision of the Board of Directors. The Company calculates the total compensation expense using the option pricing model. In the model, the risk free rate of 10.0 percent and 4.74 percent...

  • Page 78
    ...2002 87,970 12,269 50,301 (8,009) 1,401 10,243 41,994 (10,586) (6,686) 148,176 159,931 123,707 133,521 The difference betw een income before tax in financial accounting and taxable income pursuant to Corporate Income Tax Law of Korea is as follow s : Korean w on (in millions) U.S. dollars...

  • Page 79
    ... 3.4% 2002 368,121,297 4 5% 76,833 14.3% 2.6% 20. SUPPLEM ENTARY INFORM ATION FOR COM PUTATION OF VALUE ADDED : The accounts and amounts needed for calculation of value added are as follow s : Korean w on (in millions) U.S. dollars (Note 2) (in thousands) 2003 Ordinary income Labor costs Interest...

  • Page 80
    ... December 31, 2003 are summarized below . Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Revenues Hyundai M otor Company Hyundai M OBIS Hyundai Hysco Co., Ltd. Hyundai Capital Services, Inc. Hyundai Pow ertek Co., Ltd. Dymos Inc. WIA Corporation Bontec Co., Ltd. Autoever Systems Co...

  • Page 81
    ...2002 are summarized below . Korean w on (in millions) U.S. dollars (Note 2) (in thousands) Revenues Hyundai M otor Company Hyundai M OBIS Hyundai Hysco Co., Ltd. Hyundai Capital Services, Inc. Hyundai Pow ertek Co., Ltd. Dymos Inc. WIA Corporation... 463,486 243,556 386,947 2003 Annual Report 81

  • Page 82
    ...) 2003 Salaries and w ages Sales promotion Travel Communications Utilities Taxes and dues Rent Depreciation and amortization Repairs and maintenance Advertising Freight Supplies and stationery Commissions and fees Education and training Ordinary research and development Overseas marketing Export...

  • Page 83
    ... the Company, w hich w ill be submitted to the shareholders' meeting, are scheduled to be approved by the Board of Directors on February 20, 2004. 26. SUM M ARY OF RESULTS OF OPERATIONS FOR THE LAST QUARTER : Results of operations for the last quarters of 2003 and 2002 are as follow s. Korean w on...

  • Page 84
    Fi v e Y e a r s Su m m a r y (Units, Korean w on in millions) 2003 2002 2001 2000 1999 Sales Volume Domestic Export 858,697 319,795 538,902 894,268 444,444 449,824 899,788 411,321 488,467 856,045 408,378 447,667 769,641 300,998 468,643 Revenue Domestic Export 12,839,881 5,126,358 7,...

  • Page 85
    ... • Graduated from Department of Business Environmental M ovement Administration, Seoul National University • President of Tax Officials Training Center • Head of Seoul Regional Tax Office 3. Eui Sun Chung • Graduated from Korea University, Department • Executive Director of Environment...

  • Page 86
    ...a concrete plan of action centered on a global management strate gy. With the construction of the Hwasung Plant, the pro ductio n syste m was e xpande d to an inte r national scale, and by developing its own first new model, Kia gained technological competi tiveness in the global market. A change of...

  • Page 87
    ...Rio produced 2000 _ Subsidiary companies established in 5 European countries 2000 _ Company aw arded Grand Prize in Korea Service Quality Aw ard 2000 _ Sorento begins exports to overseas market 2003 _ Opirus/Amanti launched 2003 _ M ain sponsorship agreement signed for Australian Open through 2008...

  • Page 88
    ... solution provider. The company takes advant age of t he logist ics know how of t he Hyundai Group and its ow n w orldw ide logistics net w ork, w hich includes e com m erce and a supply chain management system. t echnologies in collaborat ion w it h universit ies and research institutes at home...

  • Page 89
    ...around the world, Kia Motors is a true global player Kia is expanding its global capabilities to answ er customer needs around the w orld. • Head Office • Regional Headguarter • Overseas Subsidiary • Joint Corporation • Regional Office • R&D Center • Domestic Plant • KD Plant • KD...

  • Page 90
    231, Yangjae Dong, Seocho Gu, Seoul, Korea, 137 938 TEL : 82 2 3464 1114 w w w .kia.co.kr w w w .kmcir.com Copyright 2003 by KIA M OTORS Corp. Produced by IR-Plus For Environmental protection, this catalog can be recycled