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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.

2015 Hyundai Sonata found uncovered in Korea

Hyundai is locked and loaded to debut its redesigned, 2015 Sonata at the New York Auto Show next month. For one enterprising Korean photographer, however, the reveal just couldn't come soon enough.
A South Korean website called Bobaedream.co.kr unceremoniously published some images of what would appear to be a completely undisguised example of the new Sonata. Korean Car Blog quickly followed up on the leak, claiming that the car in question was fitted with Hyundai's 2.0-liter turbocharged GDI engine, making 274 horsepower, and connected to an all-new, seven-speed dual-clutch transmission.
Whether that information came from a reliable insider source (as the photos would suggest) or was just a best guess, we can't say. But we can see what direction Hyundai is headed in with the Sonata. The front end seen in the spy shots is more or less what we'd already seen in the last teaser picture, with a new headlamp design helping to set off a prominent grille. The grille does seem to have some element of the strong, graphical surround from the teaser, too, though it's not as defined in these low-resolution pictures. Sheetmetal on the hood and bodysides seems cleaner, straighter and less fussy than in the current car, too. As for whether or not this is the Korean-spec car or the one destined for the US market, that's unclear, though we have been told that the two cars do look very similar.

Tucson hydrogen fuel cell CUV will allow Hyundai to sell more dirty cars

With the first Hyundai Tucson Fuel Cell Vehicle deliveries happening soon (a bit later than expected), it's time for the Korean automaker to explain why it's offering the H2 CUV here in the states. After all, there are only 10 public hydrogen stations in the US today, according to the DOE, so it can't be to take over the market. According to a Hyundai exec, the reason we are getting the Tucson Fuel Cell is to make up to $130,000 through California's ZEV credit system. "We really don't make any money out of selling the fuel cell vehicles for now" – Byung Ki Ahn According to Wards Auto, the California Air Resources Board (CARB) will give the automaker up to 26 points worth of zero emission vehicle (ZEV) credits for each of the $499/month hydrogen Tucson leased through the 2017 model year. Those credits could be worth up to $130,000 to Hyundai. Byung Ki Ahn, Hyundai's director of the fuel cell group, told Wards Auto that, "We really don't make any money out of selling the fuel cell vehicles for now. ... So just by selling the fuel cell (vehicle) we could get a lot of credit points, which you could sell at a later time if you want, like Tesla does. It could be a good business model." Ahn clarified that Hyundai does not plan to cash in on those credits, but to use them to offset the rest of its vehicle lineup. Other automakers also participate in the ZEV credit system, of course, but if Anh's numbers are correct, then fuel cell vehicles earn more credits than battery electric vehicles do, so if you want to earn a lot of credits, hydrogen is a good way to go. You can find more details over at Wards Auto. *This post has been updated to mention other automakers using the ZEV scheme.