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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 to get AWD?

The funky Kia Soul is one of the three affordable, efficient and style-first boxes on sale today (along with the Scion xB and Nissan Cube). Like its competition, it sits atop a front-drive platform with a longitudinally mounted four-cylinder engine.
It's a dandy car in this setup, but it sounds like Kia may be looking to differentiate the Soul from the herd by offering an optional all-wheel-drive system in the future. According to the report filed by Kia World, the popularity of the small, stylish crossover segment is expected to expand considerably over the coming years, especially overseas.
Citing the optional all-wheel drive on the Renault Captur, Ford Ecosport and Opel Mokka (Buick Encore in the US), along with the eventual arrival of a sub-Tiguan Volkswagen, called the Taigun, an all-wheel-drive Soul seems to make a lot of sense for these foreign markets. In the American market, meanwhile, AWD would open the Soul up to a new segment of buyers that like its looks but want all-wheel ability. Kia World is claiming the Soul AWD could hit markets in 2016 wearing a ruggedized version of the sheetmetal shown on the 2014 Soul that debuted in earlier this year in New York. Expect a bit of extra ground clearance to accompany the new drivetrain. Finally, all-wheel drive would likely only be available on the mid-range Soul + and top-spec Soul !.

Provo concept name has Kia embroiled in terrorism controversy?

In the relatively lengthy press release that Kia composed for the launch of its Provo concept car at the Geneva Motor Show this week, the company never mentioned where the name came from, or what it means for the car. A very basic web search for "Provo" reveals that the inspiration for the hatch could have been a city in Utah, a township in South Dakota or a village in Bosnia. The name could be a reference to either an American (Fred) or Canadian (Dwayne) football player, and Provo might also accurately reference a "Dutch counterculture movement in the mid-1960s" or a ship in the US Navy. More likely than any of those, however, is that the Kia designers of the concept - a car that was wholly a product of the Korean automaker's design studios in Frankfurt, for the record - meant it as a play on the existing Pro_cee'd hatchback.
What the designers and Kia executives that signed off on the Provo almost certainly did not have in mind was a reference to a street name for the Provisional Irish Republican Army. That "Provo" was, according to TheDetroitBureau.com, an outlawed army faction that was blamed for some 2,000 deaths in Northern Ireland during a period stretching from 1970 to 1997.
And yet, it was that association that led Gregory Campbell, a member of parliament from Northern Ireland, to introduce legislation that would ban Kia from selling a car under the name Provo. Kia, quick to realize the sizable gaffe it has stumbled into with the name, has reportedly already promised not to use the name for a production vehicle.