After the first k2, the ki,pi,k1 is supposed to be into one stitch. You would knit 1 but don't drop the st off the left needle, bring the right needle around and p1 into the same st and then finally swing the right needle around again and knit 1 into that same st and then slip the st off the needle. Don't do this too tightly or it will be very difficult to work.
It will increase 2 sts and be balanced by the purl 3 sts together which decreases 2 sts.
Here's a video
that may help. There are several others if you Google k1p1k1 in one stitch.