Kia Motors is South Korea's second largest automobile manufacturer with headquarters in Seoul, South Korea, owned by the Hyundai Kia Automotive Group. Its CEO is Chung Eui-sun. The American arm is Kia Motors America. On October 20, 2006, Kia Motors America formally hosted a groundbreaking ceremony for its first U.S. assembly plant in West Point, Georgia, at an initial cost of over $1 billion. Since 2005, Kia has started to focus on the European market and is currently one of the UK's fastest growing car companies and had various other successes in the European market.