Kia Motor Corporation (Hangul: ?????; Hanja: ?????, IPA: [ki.a], literally "Kia automobile"; stylized as KI?), headquartered in Seoul, is South Koreas second-largest automobile manufacturer, following the Hyundai Motor Company, with sales of over 3.3 million vehicles in 2015. As of December 2015[update], the Kia Motor Corporation is 33.88% minority owned by the Hyundai Motor Company totaling just over $6 billion USD. Kia Motor Corporation is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37% totaling more than $8.3 billion USD. 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 was founded in December 1944 as Kyungsung Precision Industry, a manufacturer of steel tubing and bicycle parts, eventually producing Koreas first domestic bicycle, the Samchully, in 1951. In 1952, Kyungsung Precision Industry changed its name to Kia Industries, and later built Honda-licensed small motorcycles (starting in 1957), Mazda-licensed trucks (1962) and cars (1974). The company opened its first integrated automotive assembly plant in 1973, the Sohari Plant. Kia built the small Brisa range of cars until 1981, when production came to an end after the new military dictator Chun Doo-hwan enforced industry consolidation. This forced Kia to give up passenger cars and focus entirely on light trucks. Prior to the forced 1981 shutdown, Kia rounded out its passenger car lineup with two other foreign models assembled under license: the Fiat 132 and the Peugeot 604.