Finally got this red oil pressure warning light come up on my dash at 102K miles. Took it to my mechanic and he said its the oil sensor. Looks like its doable by removing the intake valve cover, upper and lower manifolds, and the fuel rail lines.
Here is a video of a similar engine.
Its a tight squeeze with a 22mm wobbly socket to get to the sensor as its closer to the main water line going across but certainly doable. My mechanic said he can do it in 3 hours tops. He will also try to clean the carbon deposits on my intake valves while the intake valve covers are removed. I've put in an order for the sensor (947513C000) through Hyundai as it seem to be cheaper there compared to Kia dealerships/wholesalers. The sensor just costs CAD$50. Will get this job done next week.