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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 Kia K900 introduces new 3.8-liter V6 base model

Kia has announced a series of updates to its K900 flagship sedan. Some of the enhancements applied to the 2016 model are more significant than others. The biggest news here is the arrival of a new V6 base model. Previously available Stateside only with the V8, the 2016 Kia K900 will now be offered with an all-new 3.8-liter V6 engine option, good for 311 horsepower. That base model still includes navigation, a leather interior, and a panoramic sunroof as standard equipment – just with a smaller engine to move it all. No changes were announced for the 5.0-liter V8, which is quoted at 420 hp. Revised pricing and realigned trim levels place the base Premium V6 model at $49,950, the Luxury V6 at $54,950, and the top-of-the-line Luxury V8 model at $62,850. This compared to $56,350 base MSRP that Kia charged for last year's eight-cylinder model. A $950 destination charge is included in all of those prices. Some stylistic changes have been made to the K900 as well, including new 18-inch wheels for the V6 model (19 for the V8), a new front grille, and updated rear-end styling that includes chrome trim, new exhaust pipes, taillights, and rear bumper. New equipment includes a hands-free trunk lid and optional autonomous braking system, along with a new 9.2-inch infotainment display and a system that can operate the ignition, door locks, and climate control from a remote smartphone app. The arrival of the new K900 (known as the K9 back in Korea) coincides with the emergence of a more substantially updated Cadenza (known domestically as the K7). Along with the refreshed Kia premium sedans, Hyundai is separating its luxury lineup into the new Genesis sub-brand. Between them, the Korean automaker aims to take a larger slice of the pie from the usual upscale suspects from Japan, Europe, and these United States. Will this entry-level model move the needle much further? Probably not, but we'll see. 2016 K900 OVERVIEWKia's Luxury Flagship Sedan Adds more Features, Technology and Style - 2016 K9001 receives all-new V6 powertrain - First-class interior and exterior enhancements continue to set K900 apart from segment IRVINE, Calif., November 23, 2015 – The K900 continues to challenge conventional notions of luxury as it did in 2015 when it earned the "International Car of the Year" award by Road and Travel Magazine and set a record-high score in its segment to earn AutoPacific's Vehicle Satisfaction Award (VSA).

Kia Niro hybrid CUV teased again ahead of Chicago debut

The 2016 Detroit Auto Show just started, but Kia is already looking forward to February. That's when the Chicago Auto Show happens, and that's when Kia promises to unveil its Niro hybrid compact crossover. The company's two teaser images offer a great look at the little CUV, especially when you consider them with the earlier design sketches. The Niro is part of Kia's push to create a greener lineup through 2020, and the model packs a dedicated hybrid powertrain. Earlier reports suggest that it consists of a 1.6-liter four-cylinder and 47-horsepower electric motor with a 1.56-kWh battery. A six-speed dual-clutch gearbox will likely put the power to the road. Kia's styling centers in California and Namyang, South Korea, are responsible for the Niro's look. The designers use a narrow version of the company's tiger-nose grille for this CUV, but the high-mounted headlights create a clear family resemblance to the latest Sportage. The roofline appears to have a coupe-like arch, and the rear gets nearly rectangular taillights that angle into the hatch. If the Niro name sounds familiar, that's because Kia first used it on a slightly bulbous crossover concept at the 2013 Frankfurt Motor Show. You'll have to wait a month for all the details, but until then, enjoy the teasers and press release below. KIA REVEALS FIRST IMAGES OF ALL-NEW NIRO HYBRID UTILITY VEHICLE Kia reveals first images of all-new Niro Hybrid Utility Vehicle Exclusive first images of Niro HUV illustrates sporty and versatile design Niro HUV world premiere set for Chicago Auto Show in February 2016 Dedicated hybrid powertrain specifically developed for all-new model (SEOUL) January 12, 2016 – Kia has today unveiled the first official images of the sporty and versatile Niro – an all-new Hybrid Utility Vehicle (HUV) that's set to add a fresh dimension to the global compact SUV market. The styling of the Niro was led by Kia's design centers in California, USA and Namyang, Korea and incorporates the practicality and aesthetic allure of a compact SUV, with a sleek, aerodynamic body and subtly sculptured surfaces. Highlighting the raised rear haunches that endow the HUV with an athletic stance, the image also reveals high-mounted LED taillights that complement an uncluttered rear end. The slim character line and rear windows emphasize the car's sleek profile, while allowing greater room for the Niro's muscular wheel arches.