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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.

Hyundai Rockar dealership concept a kinder way to buy a car [w/video]

The simple car-buying battle line these days usually centers around dealerships versus some alternative method, like online, that bypasses the dealer. A few manufacturers are trying ways in between those two poles, so that customers can visit a retail concept brick-and-mortar location but avoid the negative associations they have with dealerships; Audi's done it in London, BMW's done it in Paris and Tesla is doing it all over. After two years in development, Hyundai has done the same with its Hyundai Rockar store in the Bluewater shopping mall in Kent, England. Hyundai UK partnered with Simon Dixon on the venture, Dixon being a 20-year veteran of the car industry who was frustrated by the experience of having to buy a car at a traditional dealership. Rockar, tucked between a Disney store and a Body Shop, keeps three vehicles in the store; if you prefer, you can handle the entire car-buying transaction online at home, or at computer stations in the store with the help of "Angels," otherwise known as salespeople. Focusing on the retail experience, however, the Angels don't have car backgrounds; they've been trained in the product, but we're told they aren't there to push it on you. Car hunters who want to trade in can input their car to get fair trade value; Rockar says all of its trade-ins go straight to auction, so values are based on dealer auction guides, and every customer gets a no-haggle purchase price. There's a test-drive facility in the mall's enormous parking lot, and prospective customers can go for a spin without a salesperson. It will also attend to routine service needs: owners can book appointments, bring their car to the mall, amuse themselves for a few hours and pick it up the car it's completed. Rockar says it will do routine maintenance on any car, not just Hyundais. Echoing Audi and BMW, Hyundai UK says this isn't about replacing the dealership, but trying to find a better, easier, and less stressful way for potential customers to interact with the brand and buy a car. Bluewater gets 27 million visitors per year, and in just over a month of being open more than 4,000 of them have stopped into Rockar, with three buying a car. Rockar says it will provide free service for three years for the first 100 buyers, and Hyundai expects it to be one of its UK's top ten dealers by the end of 2015. The video has more on the concept. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

2014 Hyundai i40 Tourer / Sonata wagon

Recently, we took a vacation to Australia, because sometimes we have to get away from all of that other travel and good living that we withstand in order to bring you the latest car news. While there, we grabbed the keys to a Hyundai i40 Tourer, essentially the Sonata wagon we never got a chance to love here.
Even though it didn't have a manual transmission, it did have a diesel and, for reasons beyond that oil-burner, our enduring affections. No, this story will not include another plea for Hyundai to bring it to the US - it likely wouldn't stand a chance against our crossover- and size-crazed mania, but it's a brilliant fit for markets that appreciate tidy haulers.