“Kia Motors has to expand its car production overseas, as its current overseas production is too small in terms of the carmaker’s production scale,” Vice Chairman Chung Ui-son said recently in pointing out Kia’s pressing concerns. He made the remarks at a debut ceremony for the K3 sedan at the Alpensia Resort in Pyeongchang, Gangwon Province, on Sept. 17.

He said Kia has production plants in a number of countries where car markets are big such as the U.S. and China, but the automaker has not been able to meet the rising demand for its cars due to the insufficient production capacities of its overseas production plants.

Kia currently produces 1.33 million cars annually overseas, but it is too few compared to its domestic production at 1.64 million cars. In order to meet the fast rising demand for its cars in overseas market, the automaker has to rapidly expand its car plants overseas.

Kia’s posted sales of 48,105 cars in the United States in September, a 35 percent YoY increase, setting new monthly sales records for 25 months in a row. Its sister automaker Hyundai Motor sold 60,025 cars in September, up 25 percent YoY and a new record for September sales. This also marked the seventh consecutive month of sales of more than 60,000 cars. The combined U.S. auto market share of the two sister auto firms rose to 9.1 percent thanks to the continued rise in sales figures of the two Korean auto makers in the U.S. car market.

Vice Chairman Chung said many automakers are selling their cars in global car markets as their domestic car markets are limited. Kia will also have to expand its overseas production, Chung said, adding that the automaker will start producing the K3 in China, too, next month. He said Kia would have to find some ways to expand its overseas plants soon in order to be able to meet the rising demand for its vehicles around the world.

To develop the K3 sedan, Kia invested 300 billion won and 42 months to finally  complete the new passenger car model under the code name YD. “K” is taken from Kia, Korea, the Greek word ‘kratos’ for power, and the English work ‘kinetic,’ meaning dynamic power, with the “3” meaning junior medium-sized sedan, the automaker said. The completion of the K3 car model means the end of Kia’s K series of new passenger car models starting with the K5, K7, and K3 models.

The K3 has been designed with young car drivers in mind in terms of style, pleasure while driving because of its outstanding functions and fuel efficiency, various ambiance gadgets, and three special features that only the K3 model is equipped with, the carmaker said.

The new car model is 4,560 mm long and 1,780 mm wide and 1,435 mm from the ground to the roof. It is designed to show dynamic muscularity with well balanced beauty, the company said. The frontal shape looks refined and strong with sensitivity of colors in harmony well preserved.

The new sedan is powered by the gamma 1.6 GDI engine with a total power output of 140 horsepower and a maximum torque of 17.0kg/m with six automatic transmissions and 14 km/l fuel efficiency rate.

The new car model is equipped with “uvo,” next generation telemax service system for the first time for any passenger car in the world, enabling the use of smartphones to remote control the car in the areas of safety and security.

Vice Chairman Chung said Kia plans to sell 500,000 K3s in 2014 in total including 60,000 in Korea.