Awarded 'Export Tower' at Trade Day Ceremony on the 5th
Kia Increases Exports of Electric Vehicles, Hybrids, and SUVs
Record $25 Billion Export, Highest Ever...Renewed for 2 Consecutive Years
Ranked 1st in Export Amount Among 'Export Tower' Awardees
Kia, celebrating its 80th anniversary this year, achieved its highest-ever export record, winning the ‘Export Tower’ award for the second consecutive year. Kia was recognized for its contribution to the national economy by setting new export records through enhancing brand competitiveness and strengthening its product lineup.
On the 5th, Kia announced that it received the ‘Export Tower’ award for the second consecutive year at the 61st Trade Day ceremony held at COEX in Samseong-dong, Gangnam-gu, Seoul. Kia’s export amount reached $25.6 billion, ranking first overall among approximately 1,500 awarded companies based on export value. At the ceremony, Kia President Song Ho-sung received the ‘Export Tower’ award on behalf of the company, and Yoon Seung-gyu, Vice President and Head of Kia’s North America Division, was honored with the ‘Gold Tower Order of Industrial Service Merit’ for his contributions to expanding exports and sales.
The Korea International Trade Association holds the Trade Day ceremony annually to reward companies that have contributed to increasing exports. To receive the ‘Export Tower’ award, a company must break its previous export records. Kia’s export performance from July last year to June this year was $25.6 billion, a 9% increase compared to the same period last year, setting a new record for the second consecutive year.
Kia’s new export record is considered meaningful as it was achieved amid increasing global geopolitical risks and the spread of protectionism. The key factors behind Kia’s export record include diversifying its lineup centered on electric vehicles, hybrid electric vehicles (HEV), and sport utility vehicles (SUV), and increasing exports of high value-added models.
At the 61st Trade Day ceremony, Kia's Song Ho-sung is taking a commemorative photo after receiving the 'Export Tower' award for two consecutive years. Photo by Kia
Kia’s electric vehicle exports increased more than sevenfold from about 25,000 units in 2019 to approximately 178,000 units last year. Kia has established a lineup based on the dedicated electric vehicle platform E-GMP, including the mid-size SUV EV6, flagship SUV EV9, and the mass-market strategy model EV3. To expand electric vehicle exports, Kia also increased domestic production capacity. In September, it transformed the second plant at Autoland Gwangmyeong into the ‘Gwangmyeong E-Plant,’ becoming Hyundai Motor Group’s first dedicated electric vehicle factory. Next year, the ‘Hwaseong E-Plant’ will be completed to begin full-scale mass production of PBV (Purpose Built Vehicle) models using the electric vehicle platform.
Additionally, the increase in exports of high value-added models such as SUVs and HEVs is also positive. Until 2019, SUVs accounted for 62% of Kia’s exports, but this rose to 78% last year. This was due to overseas market recognition of models like the Sportage and Sorento. Last year, Kia’s HEV exports reached 124,005 units, a 25% increase compared to the previous year. Kia increased HEV volumes by responding flexibly to market demand with a flexible supply system.
It is also noteworthy that Kia is increasing its share in emerging markets such as Asia-Pacific (10%), Middle East and Africa (10%), and Latin America (6%), as well as major regions like North America (40%) and Europe (31%). In particular, Australia set a new all-time sales record last year and continued to break records through the first half of this year. Kia is also actively expanding its business by pioneering new markets in Central Asia, including Kazakhstan and Uzbekistan.
Song Ho-sung, President of Kia, said, "This year is especially meaningful as it marks Kia’s 80th anniversary. We will continue to do our best to achieve sustainable growth going forward."
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