Kia Motors unveiled its K3 compact sedan at the Alpensia Resort in Pyeongchang, Gangwon Province on Monday.

The K3 has a larger cabin and is 30mm longer and 5 mm wider than its predecessor, the Forte. The new model is 25 mm lower than the Forte to give it a more agile appearance. It offers the same maximum output of 140 horsepower and is slightly more fuel efficient, delivering 14 km per liter.

Lee Hyung-geun (left), Kia Motors' vice chairman, poses with Kia's K3 during the model's launch at the Alpensia Resort in Pyeongchang, Gangwon Province on Monday. /Courtesy of Kia Motors

Kia aims to sell 41,000 cars by the end of this year at home and abroad, and 410,000 in 2013. The K3 sedan is priced from W14.92 million (US$1=W1,118) to W19.39 million, making it W310,000 to W520,000 more expensive than the Forte.

"The K3 completes the K-series, which started with the K7 in 2009, followed by the K5 in 2010 and the K9 this May," said Lee Hyung-geun, Kia Motors' vice chairman.

"The new model will appeal to customers as it offers an outstanding performance, as well as remote-control features using smartphones."