Kia Motor Corporation (Hangul: 기아자동차; Hanja: 起亞自動車, IPA: [ki.a], lit. " Kia automobile"; stylized as KIΛ), headquartered in Seoul, 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, which owns a 33.88% stake valued at just over US$6 billion. Kia, in turn, is a minority owner of more than twenty Hyundai subsidiaries ranging from 4.9% up to 45.37%, totalling more than US$8.3 billion. According to Kia Motors, the name "Kia" derives from the Sino-Korean characters "ki" (起, "to come out") and "a" (亞, which stands for (East) Asia), it is roughly translated as "to come out of the east.