19/10/1998 South Korea merges its carmakers Hyundai and Kia
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The group was formed through the purchase of 51% of South Korea's 2nd largest car company, Kia Motors, by Hyundai Motor Company in 1998. Hyundai owns 33.88% of Kia Motors. The Hyundai Kia Automotive Group also refers to the group of affiliated companies interconnected by complex shareholding arrangements, with Hyundai Motor Company regarded as the representative of the group.
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