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Hyundai reveals CEO's pay for first time ever

Thanks to some government pressure, Hyundai's billionaire chairman, Chung Mong Koo, has revealed just how much he gets paid each year. Honestly, the amount is a bit lower than we'd expect considering he helms such a huge industrial empire. The 76-year-old chairman brought home $13 million in 2013, $5.2 million of which came from Hyundai's automotive business while both Mobis and Hyundai Steel chipped in $3.94 million, each. For reference, Ford CEO Alan Mulally netted $23.2 million in 2013, although the vast majority of that money came from stock options.
The push for Chung to reveal his pay was part of a larger effort by the South Korean government called the Financial Investment Services and Capital Markets Act. The act forces several thousand companies to release info on annual pay, bonuses and severance for employees earning over $5 million won ($469,000), according to Bloomberg.
"With the disclosure of the executives' compensation, the pressure to deliver better profits will increase," said Heo Pil Seok, the CEO of Midas International Asset Management. It seems to be working, as Hyundai shareholders, of which Midas is one, have seen their shares increase by 6.1 percent in 2014, which includes a 1.2-percent jump as of yesterday, according to Bloomberg.

2016 Hyundai Tucson comes to Geneva with long-awaited redesign

As one of the oldest vehicles in Hyundai's lineup, it was only a matter of time before the compact Tucson was given a redesign. Now, at the 2015 Geneva Motor Show, we're getting a first-person look at the next-generation model as it prepares to do battle in an increasingly important market. While the last-generation Tucson was an ambassador of Hyundai's early "fluidic sculpture" design language, this new model shares the sharper, more aggressive lines of last year's Intrado Concept. A hexagonal grille is front and center, while the large headlights bleed into the front fenders. As we covered in our original post, the broad, flat hood is reminiscent of the Santa Fe, while the tail looks to the Genesis for its taillight design. Ample attention has also been paid to the cabin, although admittedly, the last Tucson's interior aged rather well. The Geneva show car features handsome red leather seats that contrast nicely with the black dash and silver accents. The cabin layout itself, meanwhile, isn't unlike what's found on the new Sonata; it's clean, logical and easy to figure out. Take a look at our full gallery of live images from the car's Geneva Motor Show Debut. THE ALL-NEW TUCSON 17/02/15 All-New Tucson represents significant step forward for Hyundai New model follows one million Hyundai SUV sales in Europe, over 116,600 in the UK Bold and athletic exterior creates unique appearance Refined interior combines elegance with ergonomics and generous cabin space Convenience and connectivity features tailored to customer needs including New Navigation with TomTom Live services and seven-year free subscription Comprehensive active and passive safety technologies Wide choice of engines; power range from 115 PS to 184 PS All models for Europe to be built in Europe High Wycombe, 17 February 2015 – With its worldwide public debut just weeks away at the 2015 Geneva Motor Show, the All-New Hyundai Tucson is set to redefine the Hyundai brand's C-SUV offering – featuring the highest levels of design, quality and technology which are poised to lead the segment. "The All-New Tucson is a bold new car that represents another leap forward for Hyundai," commented Tony Whitehorn, President & CEO, Hyundai Motor UK.

Hyundai's Genesis luxury brand not going to Europe this decade

After dipping into the premium market with the Genesis and Equus sedans, Hyundai made headlines with the planned launch of a separate premium brand, Genesis. It starts with the renamed G80 (nee Genesis) and redesigned G90 (Equus) sedans here in the US, but European consumers will have to wait. "To launch a premium brand in Europe is a challenge and it's an even bigger challenge if you don't have the products you need for the market," Hyundai Europe Chief Operating Officer Thomas Schmid told Automotive News Europe. "Europe won't see it before 2019. The main reason is we need different powertrains." Powertrains aren't the brand's only shortcoming. With the G70 – a 3 Series competitor – coming as the third showroom product, the brand also won't have a competitor in the increasingly important crossover ranks. As Schmid told ANE, "we don't yet see the right moment to do it because at the end, we want to be successful, and successful also means profitable." Initially, Genesis will launch in North America, the Middle East, China, and South Korea. Pushing back the European launch to 2019 or 2020 should give Genesis some breathing room, ANE reports. By that point, the company will offer six different vehicles, including two CUVs. According to Schmid, the brand would launch in Europe with just five vehicles. At halfway through 2016 and nothing but the G70 on the radar, expect an aggressive product launch schedule in the coming years if Genesis is going to stick to that timeline. Related Video: Featured Gallery Genesis Hybrid Sport Sedan Concept View 10 Photos News Source: Automotive News EuropeImage Credit: Genesis Genesis Hyundai Crossover Luxury