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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 takes the wraps off new Sorento

We've seen the spy shots (twice) and we've seen the teaser images, but now Kia has finally revealed the finished form of its upcoming new Sorento crossover.
Taking some styling cues from the Kia Cross GT concept from the 2013 Chicago Auto Show, but with better proportions, the new Sorento packs a more pronounced grille in an altogether more aggressive (though not necessarily better-looking) front end than the model it replaces. Sheet metal is more sculpted all around, and despite the wrap-around taillights, the rear end looks familiar.
The new Sorento stretches 3.7-inches longer overall, on a 3-inch longer wheelbase, but sits half an inch lower, promising more interior space and of course updated equipment and features. The Eco Dynamics badge on the tailgate suggests the availability of green tech like stop/start ignition and such. Kia will reveal the new Sorento in Korea later this month ahead of its debut at the Paris Motor Show in October.

Kia Soul getting turbo power, possible AWD

It's been a long time coming, but it appears we might finally see a turbocharged Kia Soul next year. Kia officials reportedly confirmed the hotter Soul to Motor Trend recently, and also stated that the company is (still) investigating the use of all-wheel drive for the next generation of its boxy hatchback.
The turbo Soul will arrive with the same 1.6-liter four-cylinder found in the Forte, rated at 201 horsepower and 195 pound-feet of torque. According to Motor Trend, Kia wanted to launch the hotter Soul this year, but didn't have the retuned steering or suspension calibration, as well as the larger brakes, ready in time. Transmission pairings weren't discussed, but Kia does mate both its six-speed manual and automatic units to the 1.6T.
As for all-wheel drive, this isn't the first time we've heard reports on this front, and it seems like a pretty natural fit, to us. Adding AWD would allow the Soul to better compete with vehicles like the Nissan Juke and the upcoming Chevy Trax and Jeep Renegade. But as of right now, a four-wheels-driven Soul hasn't been given an official go-ahead.