Korea Business News Agency - NSP NEWS AGENCY.

(서울=NSP통신) hYUNJIN KIM Journali = Kia signed an agreement on “Kia-Yancheng investment expansion” at Yancheng city government building in Jiangsu Province, China, on February 7.

Presented persons at the online signing ceremony were: the CEO of Kia, Song Ho-sung, the CFO, Joo Woo-jeong, the CEO of Dengfeng Yueda Kia, Ryu Chang-seung, the mayor of Yancheng, Zhou Bin, and the clerk of Yancheng, Xia Shijun.

This agreement allows Kia greater support from the Yancheng city government in business in China and an export expansion of the Kia Yancheng plant for the carmaker’s growth in China and successful leap forward.

The company expands its strategic investment to strengthen green vehicles lineups, expand exports, and release new vehicles.

Dengfeng Yueda Kia was founded as a joint venture company when the Korean carmaker entered the Chinese market in 2002. It was owned by Kia, Dengfeng Motors, and Jiangsu Yueda at 50:25:25 stakes.

Recently, its structure has changed as Jiangsu Yueda group, the state-owned company of Yancheng, acquired a 25 percent stake of Dengfeng Yueda Kia from Dengfeng Motors.

NSP News Agency hYUNJIN KIM Journalist kimhj30310@nspna.com
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