As Kia enters the used car market in earnest, a change in perception of the related market is expected. To this end, Kia Motors added a financial product sales agency and brokerage business to the business purpose of the company’s articles of incorporation.
At the 79th regular meeting of shareholders held on the 17th in the auditorium on the 2nd floor of Kia’s headquarters in Seocho-gu, Seoul, Kia approved an amendment to its articles of incorporation to add a financial product sales agency and brokerage business to its business purpose. to move on to the used car sales business.
It is expected that the entry of conglomerates into the used car market will begin in earnest starting with a pilot project this year following a recommendation of a one year grace period by the Ministry of Small and Medium Enterprises and New Businesses last year.
In January, Kia completed registration for a car dealership in Jeongeup, Jeollabuk-do. In addition, in the metropolitan area, it is building a renewal center (tentative name), a dedicated facility for certified used cars, which is responsible for △ used car performance and condition diagnosis △ goods △ quality certification △ exhibition and test drive.
Song Ho-seong, president of Kia Motors, announced this year’s management direction in his address at the shareholders’ meeting. First of all, President Song predicted that the business environment would be very difficult this year due to the decline in consumer sentiment due to the global economic recession, deepening geopolitical conflict, and the Inflation Reduction Act (IRA).
In addition, with global demand for cars expected to be 79.3 million units, which is less than before the corona crisis, it has also been identified as a difficulty to speed up competition in the electrification sector, which will continue to grow
Considering this global business environment, Kia has set three main strategic directions for this year: △ promote customer-oriented brand management △ establish PBV business operation system △ release EV flagship model.
“We will achieve sales of 3.2 million units by upgrading customer-centric brand management, establishing a purpose-based mobility business operating system (PBV), and launching flagship models of electric vehicles such as the EV9,” he said. r President Song.
/ Fortune Korea Reporter Kim Dong-hyun gaeed@fortunekorea.co.kr
