When did hyundai take over kia?

Been confused over close relationship between KIA and Hyundai that even extends to parts. I do know that Hyundai has been around since I can’t remember, so when did the acquire KIA if that’s the case?

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1998
In 1997, Kia declared bankruptcy while operating as an independent entity.
In 1998, Hyundai Motor Group stepped in to acquire the struggling automaker to prevent its collapse.
Although Kia and Hyundai Motor Group function as separate entities, Hyundai serves as the parent company of Kia Motors.

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Hyundai and Kia indeed share a close relationship, but it’s important to note that Hyundai did not acquire Kia. Instead, both companies are part of the same automotive group, the Hyundai Motor Group.

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This partnership allowed both companies to collaborate on various aspects, including research and development, manufacturing, and sharing of technologies and platforms.

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Over the years, the Hyundai Motor Group has maintained Hyundai and Kia as separate brands, each with its own distinct identity and product lineup. Despite this separation, they often share components, platforms, and technologies, leading to similarities in certain models and parts.

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