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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 Soul EV fitted with wireless charging

As the industry continues to build out electric vehicle charging infrastructure, parallel projects are working to improve it as quickly as it's deployed. Now we're seeing some groups launching fast charging stations capable of 350-kW, and more. Meanwhile, wireless charging is making advances, which would allow drivers to simply park and charge without fussing with a cable. Kia is the latest to test inductive charging, and has announced that it has deployed a fleet of Soul EVs capable of recharging wirelessly. The three-year project — a partnership between the Hyundai-Kia America Technical Center, wireless charging company Mojo Mobility and the U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) — culminated in the system being equipped to five vehicles and tested in real-world environments. The system uses electromagnetic fields transmitted between a transmitter coil on the ground and a receiver on the bottom of the car to transfer energy. It can charge at over 10 kW, with 85 percent grid-to-vehicle efficiency. Kia adds that because the system is so efficient, it can still charge even if there is some misalignment between the two coils. That means an imperfect parking job doesn't mean the car won't charge. Other automakers are also testing wireless charging, and BMW plans to offer it on a limited basis in the U.S. for its 530e plug-in hybrid. Kia is not making any promises to customers yet, though. "There is no current plan to offer the wireless charging system on production vehicles for sale to consumers," Kia stated in its press release, "however, the success of this development project suggests similar systems are possible on future Kia electric vehicles." Wireless charging could play well with other technology for Kia. For instance, it would be a boon for autonomous efforts, which the Korean automaker has begun undertaking with the testing of self-driving Soul EVs in Nevada. Wireless charging means an autonomous Kia could not only drive and park itself, but also take care of its own charging duties. Related Video: Related Gallery Kia Soul EV Autonomous Testing in Nevada News Source: Kia Green Kia Technology Emerging Technologies Hatchback Electric doe wireless charging inductive charging eere

Kia to green-light GT and Provo for production?

Kia is looking to inject a bit more performance life into its brand, and according to Auto Express, the company is looking at creating sporty models based on two of its recent concept cars, the GT four-door from the 2011 Frankfurt Motor Show (shown above) and the Provo hybrid hatchback that debuted in Geneva last week (inset, right).
"The GT is close to being approved and going into production, but, as with all our cars, they have to be developed on a sound financial footing," Benny Oeyen, Kia Europe's VP of marketing and product planning, told Auto Express. When it debuted, the GT four-door was powered by a turbocharged 3.3-liter V6, reportedly good for 389 horsepower and 394 pound-feet of torque, mated to an eight-speed automatic gearbox.
The Provo, on the other hand, could stand as a sort of halo car for the company's B-segment offerings. It would ride on the same front-wheel-drive platform as the Rio compact, though Kia says it's eager to keep the concept's gasoline-electric powertrain intact. "Our brand is currently rational, but there's space for a B-coupe," says Oeyen. Of course, the company would indeed have to look at different naming possibilities for its B-segment coupe, since the week-old Provo is already stirring up some controversy.