Kia Motors is headquartered in Seoul. Kia was founded in December 1944. According to Kia Motors, the name "Kia" derives from the Sino-Korean characters "ki" ("to come out") and "a" ("which stands for (East) Asia"), it is roughly translated as "to come out of the east. Kia is South Korea's second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 3.3 million vehicles in 2015. As of December 2015, the Kia Motor Corporation is minority owned by Hyundai.