Kia Motors was initially founded as Kyungsung Precision Industry in December 1944. Gradually, the name was changed to Kia Industries. Presently, Kia Motors is headquartered in Seoul in South Korea and is the second largest manufacturer of automobiles there. Kia Motors owns over twenty subsidiaries of Hyundai which amounts to $8.3 billion USD.
Originally, Kia Motors was known as Kyungsung Precision Industry that produced steel tubing and parts of bicycle. The company progressed to manufacturing its very first domestic bicycle in 1951. It then changed its name to Kia Industries in 1952 and ventured into making cars, motorcycles, and trucks from 1957. Kia Motors had to shut down manufacturing passenger cars in 1981 due to the dictatorship of Chun Doo-Hwan who enforced industry consolidation.