OK, so being realistic:
Primary downpipes with HFC= 30 whp
Secondary downpipes with HFC= 20 whp
Free flowing valved cat-back exhaust= 10 whp with valves opened
Intake= 10 whp
That's 70 whp. Factor 15% driveline losses= 80 crank hp. (yeah, tuned for this to compensate for overboost but with no increase in boost pressure)
Now factor in a tune for increased boost (say 19-20 psi), and a gain of 175 hp from stock makes sense. That's 540 crank HP, with just simple bolt-ons and a tune, and emissions legal to boot!! FRIGGIN' AMAZING!!
Seems to me that the Kia engineers went out of their way to de-tune this motor from the factory, maybe with the intention of leaving a lot on the table so that, in the future, they could market higher performance versions with very little effort on their part to achieve higher HP numbers.