Kia 2003 Annual Report Download - page 9

Download and view the complete annual report

Please find page 9 of the 2003 Kia annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 90

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90

2003 Annual Report 09
Kook-Jin Yoon
President & CEO
To achieve these goals, our focus for 2004 is on achieving stable labor-management relations, a
prerequisite for improved productivity and product quality, implementing marketing strategies for
launching new models and ensuring steady growth in overseas markets.
Meanwhile, this year marks the opening of a new chapter in Kia Motors’ global operation. Our
Chinese plant will begin producing the Carnival, and annual output will be expanded from the
current 50,000 to 130,000 units. An additional plant will be built in Zilina, Northern Slovakia, with
an initial annual output capacity of 200,000 vehicles, bolstering our European operations.
Regarding investments, we plan to allocate just under KRW1.43 trillion, or about 9% of annual
sales revenue. These funds are earmarked for developing new models as well as constructing a
new engine and transmission plant to boost our potential for future growth.
To give us a stronger competitive edge, new models such as the Bongo III(Medium Van) and the
Morning/Picanto(mini-car) have already been released early in 2004. One of our most ambitious
projects, a new compact SUV called KM, will be on the market by June. These new models, once
available in the US and European markets, will greatly augment Kia’s brand value.
The year 2004 will be a crucial juncture for the future of Kia Motors. We will be tapping into the
business potential of our global operation to the fullest extent, reaching to surpass the million-car
mark in sales and the trillion-Won mark in profit.
We believe that there is no challenge or ambition too high for the 30,000 person team we call Kia
Motors, so long as we stand united. We are committed, more than ever, to producing results and
reaching our high goals, to reward you, our shareholders, for your support and trust.
We appreciate your continued support and interest and our warmest wishes to each and all of you
for the year ahead.
Operating Income
(Korean won in billions)
522.2
658.5
812.4
01 02 03
Net Income
(Korean won in billions)
552.2
641.3
705.4
01 02 03