The significance of orientational and (ro)vibrational excitations on the K(2S) + H2 (X1Σg+) reaction dynamics is presented here by performing the exact time-dependent wavepacket calculations using the Coriolis coupling (CC) approach. Employing the new accurate ab initio ground electronic surface 1 2A′ reported by Yuan et al. (2018), the dynamical quantities such as integral cross sections and thermal rate constants are computed within the CC and CS (centrifugal sudden) methods. All partial wave contributions of J (total angular momentum) up to 90 are required to get the convergence in dynamical results up to the collision energy of 3.5 eV. The present study attests that the ground and first vibrational level dynamics is insignificant. For v=2, the reaction probability is monotonically increasing, followed by the onset noted near 1.25 eV, as a function of collision energy up to 3.5 eV. Further, the kinematic effects (replacing H by D atom) on the title system is also performed and found that the KH product formation is more favored than the KD product via HD depletion path.