SEOUL, KOREA - Kia Motors (Kia) entered the Best 50 Green Brands for the first time. On Jun 12, the carmaker was named 37th in Interbrand’s 3rd Annual Best Global Green Brands 2013. It is the first time for Kia to enter the global top 50 green brand ranking.
- We believe Kia’s successful design-led growth and the ongoing release of more fuel-efficient new models are key factors for this positive news. As such, given the growing importance of green carmaker’s image, the brand value gap with major automakers should be narrowed at a faster pace, we believe.
- We maintain BUY and a 12M TP of W79,000 at 8x 12MF PE, the sector’s average.
*Source: Korea Investment & Securities Co.
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