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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.

2015 Kia K900 debuts as brand's RWD flagship model

Despite the fact that executives at both Hyundai and Kia alike have said on numerous occasions that the two companies are separate entities (and largely, they are), there's still a lot that's shared between the two brands. Common platforms and powertrains are found in a number of different Hyundai and Kia products, though the end results have typically been cars that, to the consumer's eye, are quite different. So when Hyundai got its first rear-wheel-drive sedan, the Genesis, a few years ago and followed it up with the larger, more luxury-oriented Equus, it was only a matter of time before sister company Kia got a slice of the RWD pie. And the first product to use this architecture is this, the new K900 sedan that makes its debut at the LA Auto Show.
Kia will offer the K900 with both V6 and V8 power.
Think of the K900 as something of a mix between the Genesis and Equus. All three share the same platform, but the K900 share the Equus' 119.9-inch wheelbase, as well as its front and rear tracks measured at 63.8 and 64.1 inches front and rear, respectively. But unlike the V8-only Equus, Kia will offer the K900 with both V6 and V8 power, like the Genesis. In fact, the K900 will offer the same two engines, although tuned slightly differently, as the Genesis: a 3.8-liter V6 producing 311 horsepower (no torque output is listed as of this writing) and the company's 5.0-liter Tau V8 producing 420 horsepower (oddly, Hyundai rates the Genesis and Equus at 429 hp with this same engine, though that's with premium fuel). Eight-speed automatic transmissions are standard with either powerplant, with Eco, Normal and Sport shift settings.

Dancer who portrays Kia hamster guilty of disability fraud

Tisk, tisk, dancing hamster. Kia's trio of anthropomorphic rodents may be down a member as the actor that portrays one of the dancing hamsters has been arrested on charges of disability fraud.
According to The Huffington Post, 27-year-old LeRoy Barnes accepted over $51,000 in disability payments following a workplace injury in 2010. While accepting the money, he's accused of performing under aliases, in addition to his costumed work for Kia.
"Fraudulently collecting disability benefits is not only illegal, it disrespects legitimately injured Californians who are unable to work," Insurance Commissioner Dave Jones said in a release obtained by HuffPo.