In 1998, Hyundai was able to purchase the struggling Kia Motors. Kia had long been the only direct rival of Hyundai in Korea and the purchase of Kia made Hyundai the undisputed leader in automobile manufacturing in the area. At the time of the purchase, Hyundai owned 51% of Kia Motors. Since then, Hyundai has scaled down their ownership of Kia to around 32%.
Over the past decade, Hyundai has continued to hold its place as the largest Korean car company. They are firmly focused on developing and manufacturing quality family vehicles. The largest Korean car company now sells their vehicles in 193 different countries around the world through more than 6,000 dealerships. Their main manufacturing plant in Ulsan, South Korea has a production capacity of 1.6 million vehicles a year, making it the largest automobile manufacturing plant in the world.