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Three Foreign Car Makers Expected to Invest into Kia

Nov 08,1998
Hyundai announced on November 8 that three car makers in the U.S. and Germany will invest in Kia and Asia Motors. Hyundai will reveal the name of the company, their investment scale, and procedures as soon as possible after December 1.
Hyundai has held a series of investment explanation meetings intended for the 10 biggest car makers in the world and three of them expressed their intention to invest. Hyundai also plans to raise six trillion won for further investment into Kia operations. For this purpose, Hyundai will borrow 3.1 trillion won from various financial institutions.
Business experts analyze that Kia has had management difficulties including delays in domestic and overseas sales due to conflicting procedures and decisions. A source at Hyundai said, 'When Hyundai increases the capital to 1.2 trillion won and creditor banks change their loans to capital, the debt ratio of Kia and Asia Motors will be below 200%.'



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