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Kia is a South Korean car manufacturer. Founded in December 1944 by Kyungsung Precision Industry, a manufacturer of steel tubes and bicycle components, Kia produced its first bicycle, the samcholli-ho, in 1951. This model remained in production for nine years. In 1952, Kyungsung Precision Industry changed its name to Kia Industries. In 1998, hit by the Asian crisis, Kia became the property of Hyundai, which bought 51 % of its capital. In just a few decades, the two brands have conquered the world, focusing on price, reliability, style and technology. The Hyundai-Kia group is the world's fourth-largest car manufacturer, behind Toyota, Volkswagen and General Motors.