Logos Quiz Level 3-53 Answers
Kia is a South Korean automotive manufacturer. It was founded in 1944 and is headquartered in Seoul, South Korea. Kia is the oldest and second-largest car company in South Korea. Its larger competitor, Hyundai Motor Company, owns one-third of Kia. The name Kia comes from a combination of a Korean word ki, meaning to come out, and the letter a to stand for Asia. Therefore, Kia is usually understood to mean rising out of Asia. When it was first founded, Kia was a manufacturer of bicycle parts and steel tubing. Kia then began building whole bicycles in 1951, motorcycles in 1957, trucks in 1962 and cars in 1974. In 1986, Kia partnered with Ford, allowing them to produce much larger numbers of cars. Kia created Kia Motors America in 1992, allowing them to sell Kia cars under their own brand. Since then, Kia has expanded into Europe and Mexico.
In 1997, Kia declared bankruptcy due to a financial crisis that affected most of eastern Asia. At this time, Hyundai bought 51% of the company, allowing it to continue manufacturing. Since then, Hyundai’s share has been diluted to the 33% it is at today. Hyundai is still the majority shareholder of Kia. Kia sponsors a variety of sports teams and events, actors, musicians and music festivals.