- Initial 2 year contract to be extended until 2008
SEOUL January 15 2003 - Kia Motors Corporation announced today the company`s plan to extend its sponsorship of the Australian Open tennis tournament until 2008.
Kia began sponsoring the event in 2002 on an initial 2-year agreement with event organisers Tennis Australia. The agreement was a part of a long-term plan to develop Kia`s sports marketing activities in support of the company`s plan to become a top five global automaker by the end of the decade.
Kia Motors President Noi-myung Kim said, "The results of Kia`s sponsorship of the Australian Open tournament have exceeded even our most optimistic expectations. We have an excellent relationship with Tennis Australia and I look forward to continuing that relationship well into the future."
Australia was Kia`s fifth largest export market in 2002 and the company`s Carnival and Rio models are among the top sellers in their respective segments. The New Rio was released into the Australian market at the beginning of the year and the new Sorento 4WD made its debut at the 2003 Australian Open in Melbourne. The Sorento will go on sale in March.
Founded in 1944, Kia Motors Corporation (www.kia.co.kr) is Korea`s oldest manufacturer of automobiles. A part of the Hyundai Automobile Group, the company currently exports around 600,000 vehicles per year through a network of distributors that covers 190 countries. Kia Motors is the major sponsor of the Australian Tennis Open.