Kia earmarks USD3.4 billion for 2016 investments
Several automakers issue South Korean vehicle recalls
Kia is reportedly planning to set aside KRW4.25 trillion (USD3.4 billion) in total investments during 2016, reports Yonhap News Agency. Citing an internal company report, the agency suggests Kia is planning to spend KRW2.9 trillion on research and development (R&D) and about KRW457 billion on completing a Mexican plant currently under construction. A further KRW128 billion is expected to be spent on upgrading Kia's South Korean production facilities, along with KRW599 billion for plant maintenance.
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