Seoul, March 4
Song Ho-sung, president and chief executive officer (CEO) of Kia, 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 globalisation 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, reports news agency.
He acknowledged that such changes pose risks not only to Kia but also to the broader automotive sector, while emphasising 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."