Holiday Post: Dhaka, 04 Chaitra (18 March 2024):  A memorandum of understanding (MOU) has been signed between STX Corporation, an authorized company of Kia Motors Corporation, and Pragati Industries Limited, Bangladesh, to incorporate and market the Cerato sedan car under the Kia brand of South Korea's Kia Motors Corporation. The MoU was signed in Seoul in the capital of South Korea.

Md Abul Kalam Azad, Managing Director of Pragati Industries Limited and Park Sang Joon, CEO of STX Corporation signed the MoU.

Nurul Majid Mahmud Humayun MP, Minister of Industries of the People's Republic of Bangladesh, attended the MoU signing ceremony as the chief guest.

Chairman of Bangladesh Steel and Engineering Corporation (BSEC) Md. Moniruzzaman, Additional Secretary of Ministry of Industries SM Alam, Ambassador of Bangladesh Embassy in South Korea Delwar Hossain and representative of Kia Bangladesh, Executive Director of Meghna Automobile Anisuzzaman Chowdhury and Managing Director of STX Corporation were present. (Stevin) Park, Mobility Business Division Team Leader Sangnam Kim was present.

By signing the MoU, it is expected that Pragati Industries Limited will be able to supply brand new sedan cars at low cost to various buyers including government and private organizations.