2014 Kia Optima Lx on 2040-cars

Auto blog

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 teases B-segment concept headed to Frankfurt

It's not uncommon to see an automaker go a little outside of its comfort zone when creating a concept car, but Kia seems to be going all out for a new small concept it plans to unveil at the Frankfurt Motor Show. Although there is not much information to go on about this unnamed concept, Kia does say that it "hints at a possible future B-segment contender."
With headlights that would look at home on a C7 Corvette or Jaguar F-Type and door cut lines reminiscent of a Ford GT, we can only imagine how sporty this car will look in the flesh. The wide door openings also give a good glimpse inside the car revealing details deep, flat-bottomed steering wheel with paddle shifters and the peculiar rotary-style shifter, but our attention is on the instrument panel switches. If you look closely, the second switch from the left seems to be for a center differential possibly hinting at a future sporty all-wheel-drive Kia. Yes, please! Scroll down for the brief press release on the car, and stay tuned for more info as we'll be on hand covering the show next month.

Kia reveals new K3 Forte sedan in Korea [w/video]

Kia's new version of the Forte sedan has already been unveiled back in South Korea, where it's known as the K3. But while details have yet to be announced, we can expect most (if not all) of these updates to make their way to US showrooms soon. The facelifted version of the model known here as the Forte, in Korea as the K3, and elsewhere as the Cerato has a more sophisticated exterior appearance, with a larger grille, new head- and tail-lamps, and reshaped bumpers to give it a wider, more planted appearance. The interior features a sporty new flat-bottom steering wheel as well as new vents, multimedia controls, and trim. The Korean automaker has also taken the opportunity to outfit the new K3 with speed-sensitive electric power steering, lane assist, automatic park assist, and hands-free trunk opening. In its home market, the revised K3 offers 130 horsepower and 118 pound-feet of torque. But considering that the current Forte packs more punch than that already, we wouldn't take too much stock in the KDM engine specs. The 2015 Kia Forte LX available in the US packs a 1.8-liter inline-four good for 145 hp and 130 lb-ft of torque, while the more potent Forte EX steps up to a 2.0-liter four delivering 173 hp and 154 lb-ft. The Forte nameplate was launched in the US in 2009. The current, second-generation model launched in 2013. It's currently offered as a sedan, five-door hatchback, and as the two-door Forte Koup. The closely related Kia Cee'd offered in Europe is sold as a three-door hatch, five-door hatch, or five-door wagon.