REFILE-UPDATE 2-Kia CEO says no plans for new plants

(Refiles to correct dateline, day of week in lead paragraph)

* Says will focus on qualitative growth

* Targets 260,000 new Rio subcompact sales next year

* Kia to launch full electric compact in 2014; Hyundai in 2015

SEOUL, Sept 28 (Reuters) - Kia Motors , South Korea's No.2 automaker, said on Wednesday it had no plans to build new plants in South Korea or overseas and would focus instead on product quality, despite concerns its limited production capacity may slow sales growth.

"Quantitative growth is important, but qualitative growth is also important. We plan to focus on improving product quality and our brand," Lee Sam-ung, co-CEO of Kia Motors, said at a launch event for its revamped Rio subcompact in South Korea.

"Global auto demand is expected to deteriorate, but we will launch new models, strengthen local promotions and enhance brand competitiveness to cope."

Lee also said the automaker would "try its utmost" to achieve its 2011 sales target of 2.5 million vehicles despite a troubled global economy, adding that it had not yet fixed next year's sales goal.

Kia and affiliate Hyundai Motors , are expected to continue to post strong sales this year despite the uncertain economic outlook, but their stretched production capacity has failed to keep up with demand.

A Hyundai Motor executive told Reuters early this month that it also had no plans for new plants.

Lee denied media reports that Hyundai Motor did not plan to produce pure electric vehicles and would focus on hybrid electric vehicles, saying Kia and Hyundai plan to launch all-electric compact cars in 2014 and 2015, respectively.

Kia Motors said that it aimed to sell 260,000 of its new Rio subcompact next year globally, up from 110,000 this year, to expand its presence in the small-car segment. The Rio was Kia's No.3 vehicle in terms of sales last year with global sales reaching 224,942 units .

The domestic launch of the Rio, which competes with Hyundai Motor's Accent and General Motors' Aveo, follows its rollout in the United States and Europe. (Reporting by Hyunjoo Jin; Editing by Jonathan Hopfner and Matt Driskill)