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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.

Kia Forte and Forte5 bring fresh new duds to Detroit

The Telluride concept may be the biggest news from Kia in Detroit this year, but it's not the only new metal the Korean automaker has on display at Cobo. Alongside it, Kia also rolled out new versions of the Forte. As before, Kia offers the Forte in both sedan and Forte5 hatchback trim, and each got its own set of updates. Both feature distinct front-end styling, with a tiger-nose grille that stretches width-wise to join the more angular headlights and more closely resemble the snout on the all-new Optima. The sedan and hatchback also feature their own unique LED taillights. And inside they both feature a new 7-inch infotainment display powered by Kia's UVO system, soon to support Apple CarPlay and Android Auto. The Forte now comes in three trim levels – based LX, loaded EX and a sporty S (in between the two on the sedan) or SX (at the top of the line for the hatchback). Of course, the sedan ends with a trunk at the back and the hatchback with a liftgate, but they also receive slightly different powertrain options. Every version comes with a 2.0-liter inline four mated to a manual or automatic transmission with six speeds – save for the Forte5 SX. That remains the enthusiast's choice with a 1.6-liter turbo, mated to either a six-speed manual or a new seven-speed dual-clutch transmission. All that's left now is for Kia to reveal the new two-door Forte Koup, but we'll have to hold on for that to come at a later date. In the meantime, you can scope out the live images of both new models from the floor of the Detroit Auto Show, and watch the full Kia press conference with live reaction below. 2017 Forte overview Compact Sedan Receives Updated Design, New Powertrain and Advanced Tech, Including Android Auto and Apple Car PlayTM - 2017 Forte adds 2.0-liter engine, plus updated six-speed automatic transmission - Advanced driver assistance features including Autonomous Emergency Braking, Rear Cross Traffic Alert, Front Collision Warning, and Dynamic Bending Lights3 are newly available - Sporty S trim pumps up Forte's sport factor with exclusive interior and features Irvine, Calif., Jan. 11, 2015 – The Motor City today got an up close look at the refreshed 2017 Forte when Kia Motors America pulled the silk off the updated compact sedan at the North American International Auto Show in Detroit.

Kia Optima Sportwagon spied before Geneva

Kia showed off the Sportspace concept at the Geneva Motor Show this year, and we knew at the time that it previewed design elements that would migrate to the Optima sedan. On top of that, it's keeping its hump to transition into the Optima Sportwagon for what we presume will be audiences outside the US. When we asked Kia about the chance of it coming here, a company spokesman responded: "Right now we don't have plans to bring the Optima Sportwagon to the US but we are continuously studying the market and looking for new opportunities. The all-new 2016 Optima midsize sedan is one of our best selling vehicles and at this time we are focused on its launch in the U.S." Now in prototype form, spy photographers caught engineers testing the Sportwagon out on German roads. The roofline declines as it makes its way to the back, a nod to the concept and a sporty profile. Otherwise design matters appear quite toned down compared to the concept, which shouldn't be a surprise. And in spite of commenters who promised Kia their money if the South Korean automaker would produce the Sportspace with all-wheel drive and something like 400 horsepower, what buyers will really be faced with is front-wheel drive and a 2.0-liter turbocharged engine with around 250 horsepower. A plug-in hybrid is said to be on the cards, too. Spy shooters said they saw Volkswagen Passat and Ford Mondeo wagons at the Kia test facility, so you know the benchmarks and have more proof that it's not for us. It's expected to make its production appearance at next year's Geneva Motor Show.