This file photo provided by Kia Corp. shows Song Ho-sung, the company’s president and CEO, speaking at the automaker’s investor day event held in Seoul on April 5, 2024. (Image courtesy of Yonhap)
SEOUL, March 4 (Korea Bizwire) — Song Ho-sung, president and chief executive officer (CEO) of Kia Corp., on Tuesday expressed confidence in turning increasing global trade and business uncertainties for the South Korean automaker into opportunities for further growth.
In a letter to shareholders published on Kia’s website, Song assessed that the globalization trend of the past half-century was “shifting toward regionalism and nationalism,” while also reshaping international trade dynamics.
Song also noted that increasing regulatory challenges, such as emissions and fuel efficiency requirements, continue to accelerate the industry’s transition to eco-friendly vehicles.
He acknowledged that such changes pose risks not only to Kia but also to the broader automotive sector, while emphasizing that such changes present opportunities for market players who are prepared.
“During the COVID-19 pandemic, when supply chain disruptions affected the entire automotive industry, Kia introduced a diversified vehicle lineup, a flexible global production network and swift supply chain adjustments to turn the crisis into an opportunity to expand our global market influence.”
He stressed that geopolitical shifts and regulatory barriers will serve as opportunities for Kia to strengthen its market position through competitive eco-friendly models, and an agile business and production structure.
(Yonhap)
