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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.

Peter Schreyer designs the future of Hyundai, Kia, and Genesis

Peter Schreyer now leads the design teams at Hyundai, Kia, and the new Genesis brand. He has the difficult task of differentiating the three brands aesthetically, even if they share mechanical components. A new profile about the designer by Bloomberg shows just how much he means to the Korean brands, and it's well worth a read. According to Bloomberg, Schreyer has distinctive ideas for the Korean brands' design. A Kia should look sporty and appeal to young buyers. In contrast, a Hyundai would be for someone who prefers a minimalist design. So far, Genesis is blending those traits for its Athletic Elegance design language. Schreyer went to Kia from Volkswagen Group in 2006, and his mission was to revolutionize the Korean's brand's boring look. He succeeded with sharper, more modern designs for vehicles like the Optima and Sorento that arrived after he took over. He did such a good job there that Hyundai-Kia Motor Group appointed him as its first non-Korean president at the end of 2012. He also now oversees former Lamborghini designer Luc Donckerwolke at the Genesis luxury brand. Bloomberg speaks with industry analysts and other designers to get a better idea of Schreyer's meaning to the company. The piece presents him as an easygoing person who knows exactly how each vehicle should look. If you want to get a better Schreyer and his work at Hyundai, Kia, and Genesis, the story is worth checking out. Related Video:

Dealership worker takes Kia Soul for 200-mile joyride

Most often, dealership road-test capers in customer cars involve exciting metal - an employee totals a Chevy Camaro ZL1, or a does the same thing with a Dodge Viper. Or tapes himself wringing out Italian exotics at triple-digit speeds on public roads. That kind of horseplay rarely involves mass-market metal because it's not worth getting caught running red lights in a 2001 Mitsubishi Montero - except that actually happened, too. But we still don't understand the mechanic at Peak Kia North in Windor, CO, who used a customer's Kia Soul as his own car for four days and put 200 miles on it. Owner Veronica Pief discovered the nonsense when she downloaded the 17 hours of driving video from her dashcam. She dropped the Soul off to have its speed-volume control fixed, but got it back with the extra mileage and the volume problem still hadn't been remedied. It got worse when she said of the dealership, "Afterwards, they just blew us off. They didn't care. They didn't show any concern." Sometime between that disrespect and Denver's KUSA 9NEWS doing a story on it, the dealer decided it should fix the situation. Pief said she wanted the dealer to buy her car back and pay off the loan, which sounds extreme, but she might have been thinking about the verbiage in her owner's manual. Kia is one of the automakers that's strict about voiding warranties if it deems a car has been abused. Peak Kia North gave Pief what she wanted just one day after the original story ran, buying the car back from her with plans to auction it and donate the proceeds to charity. And yes, the mechanic was fired. You can watch the local news report above. Related Video: News Source: Detroit Free Press, 9NEWS Auto News Kia Car Dealers Hatchback Videos viral video colorado