HYUNDAI MOTORS SHOP IN USAHyundai Kia Motors Seoul Yangjae Headquarters
1. Hyundai Motor Company's Start and Challenge
Hyundai Motor Company is Korea's leading automobile company, founded in 1967 by the late chairman Chung Juyung. After liberation, Chung laid foundation with Hyundai Motor Company (1946) and Hyundai Engineering Company (1947), and entered the automobile industry in earnest through a joint venture with Ford in 1967. It assembled and produced the first model, Ford Cortina, at its Ulsan plant in 1968, and showed its potential to launch a prototype one year after its establishment. There were also many crises such as limitations of foreign models that did not fit the road conditions in Korea and failure to pay installments. To overcome this, Hyundai recruited British automobile expert George Turnbull and Italian designer Georgeto Giuseiro in 1974 to develop Korea's first own model, "Pony." Pony succeeded in exporting overseas countries such as Canada upon its launch in 1975, leading to the globalization of the Korean automobile industry. Hyundai has since succeeded in both domestic demand and exports by releasing flagship models such as Excel, Sonata, and Grandeur, and has since grown to become the world's third largest automobile group after Toyota and Volkswagen, acquiring Kia Motors in 1999 and becoming independent as Hyundai Motor Group in 2000.
1976yr, Hyundai Motor the PONY
2. Kia Motors' Start-up And Leap
Kia is based on Gyeongseong Jeonggong, founded by Kim Cheolho in 1944. It grew into a bicycle component, Samcheonri-ho's bicycle, motorcycle, and three-wheeled truck (K-360), and then became an automobile manufacturer with the launch of Brisa, the first car in Korea, in 1974. It launched hit models such as Pride, Sepia, and Sportage in the 1980s and 1990s, but it faced bankruptcy in the aftermath of the 1997 financial crisis and was acquired by Hyundai Group in 1998. Since then, it has become one of the world's top 10 car brands, making a leap forward as a member of Hyundai Motor Group and succeeding in the global market with the KSeries (Sedan), Sportage and Sorento (medium SUV), and Carnival (minivan)
KIA EV3
3. Hyundai Motor acquired financially troubled Kia Motors in 1998
Hyundai Motor's acquisition of Kia Motors is a key event in the restructuring of the domestic auto industry triggered by the 1997 Asian financial crisis. At that time, Kia Motors entered the company reorganization process (court management) by the court in April 1998 due to serious financial difficulties, and since then, several bids have been made. Domestic and foreign companies such as Hyundai Motor, Daewoo Motor, Samsung Motor, and Ford participated in the acquisition, but after two bids, Hyundai Motor was selected as the final buyer on October 19, 1998. Immediately after the acquisition, Hyundai focused on normalizing Kia's management and restructuring, maximizing efficiency by integrating platforms, sharing parts, and shortening the product development period. As a result, Kia Motors quickly turned to the black with a net profit of 180 billion won in the second half of 1999, and escaped from court receivership in February 2000.
4. Hyundai, Kia Merger and Global Sales Ranked 3rd in the World From 2022 After Toyota and Volkswagen
Hyundai and Kia ranked third in global finished car sales for the third consecutive year from 2022 to 2025. As of the first half of 2024, Hyundai Motor Group ranked third behind Toyota and Volkswagen, and sales in overseas markets became the key driver of growth. In the first half of 2025, Hyundai Motor and Kia's overseas sales increased 1% year-on-year to about 3 million units, and in the U.S. market, they sold 430,000 units of Hyundai Motor and 380,000 units of Kia, achieving their best performance ever. They made up for their difficulties in the Chinese market by growing in other markets such as India, the U.S., and Europe, and ranked second after Toyota in global markets excluding China.
5. The Sales and Corporate Performance Status In 2024
Hyundai Motor and Kia's combined sales and operating profit reached new alltime highs of W282.68 trillion and W26.967 trillion. The figures are up 7.1 percent and 0.6 percent year-on-year, respectively. For the first time since its foundation, Kia has surpassed W100 trillion in annual sales, and Hyundai also recorded more than W175 trillion.
6. Product and strategic innovation
Electric vehicles and hybrids, enhanced lineups centered on SUVs, and expanded high value-added models were the main reasons for the strong global performance. Eco-friendly cars and SUVs such as the Sportage gained popularity in major markets such as the U.S. and Europe, and Kia has turned its Chinese factory into an export base and succeeded in targeting emerging markets such as Asia, the Middle East, and Latin America. Hyundai Motor and Kia stand out in the North American market, with sales in the U.S. rising more than 12 percent due to the launch of new cars, increased production, and electric vehicle subsidy policies.
7. Future Prospects For Hyundai And Kia Motors
Hyundai& Kia motors plans to further strengthen its position in the global automobile market by announcing its goal to expand its global market share to 4.5 percent by 2030. Based on its experience in the Chinese market, the industry evaluates that Hyundai Motor Group has the potential to become the world's second-largest car group within the next five years. Since Hyundai Motor's acquisition of Kia, the group has grown into a global automobile group in every aspect, including sales, sales, and brand status, and has continued to produce results through its electrification and global diversification strategies.
