Ssangyong Motor Co., South Korea’s smallest automaker, said Tuesday that it aims to sell 123,000 vehicles this year with sales reaching 3.19 trillion won ($2.77 billion) in order to overcome deepening market uncertainties.

The automaker sold 113,000 vehicles last year, a 38.2 percent surge from the previous year.

Of the total, 38,651 vehicles were sold at home and 74,350 in overseas markets.

The company said it set an ambitious sales target for 2012 despite the global economic slowdown, and vowed to carry out aggressive marketing to achieve the goal.

“We have to make an all-out effort to achieve substantial results this year through innovation,” said Lee Yoo-il, CEO of Ssangyong Motor, in a New Year’s message.

“We will come up with outstanding marketing strategies and plans to make inroads into emerging markets,” he said.

Ssangyong will start exporting complete knock-down car kits, which can be assembled into full vehicles at overseas plants, to India later this year in a bid to expand its market presence in the large emerging market. It will also prepare to begin CKD businesses in Russia, China and Brazil.

Ssangyong is currently controlled by Indian sport utility vehicle maker Mahindra & Mahindra Ltd. (Yonhap News)