Kia aims to nearly double foreign sales by 2010

Kia, South Korea's No.2 automaker said today that that it plans to launch a revamped model of the Lotze mid-sized sedan and the next version of the Cerato compact sedan off-shore during the second half of the year.

The maker is scheduled to open its first U.S. plant in Georgia with an annual capacity of 300,000 vehicles next year.

Currently, Kia has factories in China and Slovakia.

Business watchers say overseas units are critical for Kia as they reduce risks from foreign exchange reductions and possible disputes with its unionized workers.

Kia is targeting 1.36 million unit sales in overseas markets in 2008 as compared to 1.09 million in 2007.

Shares in Kia dropped 2.01 percent to 12,200 won, underperforming a 1.39 percent fall in the broader market.