Kia keels over
WAS it a bad omen? On July 15th representatives of American and European car makers were trying to persuade officials in Seoul that the numerous obstacles faced by importers of vehicles into South Korea hurt consumers and shielded local producers from invigorating competition. At the same time, unbeknownst to them, South Korea's third largest car maker, Kia, was proving their point by falling to its knees and begging for emergency loans to stave off bankruptcy.
This article appeared in the Business section of the print edition under the headline “Kia keels over”
From the July 19th 1997 edition
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