Founded in 1978 as a division of the hyosung group of industries, hyosung began producing japanese suzuki motorcycle designs under license for the south korean market in changwon, south korea in 1979. in 1986, they established their own research and development center in hamamatsu, japan, and the next year, they began mass production of their own designs. they were the official motorcycle supplier for the 1988 summer olympics in seoul. in 2003, hyosung motors & machinery inc. was spun off from the hyosung group to become its own corporate entity. in june 2007, hyosung motors division was acquired by korean company s&t group (science and technology), and the name was changed to s&t motors. in 2014 s&t motors was acquired by kolao holdings, and the name was changed to kr motors.