Kia Sorento on 2040-cars

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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 Rio freshens up for France

We've always felt that the current-generation Rio is styled with European flair, so good on Kia for showing its refreshed new look here at the Paris Motor Show.
The B-segment hatchback's aggressive looks get modestly more so for the new model year, with a revamped tiger nose grille and new light fixtures, along with a pair of hash marks in the fog lamp area. To us, the current car, introduced for 2012, still looks quite fresh, but we like the subtly new light fixtures and suite of new wheel designs.

Kia planning outdoorsy concept for Chicago

If you prefer vehicles with a more rugged look, then the 2015 Chicago Auto Show has quite a bounty in store. Mitsubishi will give the GC-PHEV its North American debut; Chevrolet will show the Silverado Midnight Edition, and Honda will unveil the next-gen Pilot and Acura RDX. Kia will be right along with them with its freshly announced rough-and-tumble concept for the event. Unfortunately, the Korean automaker is keeping tight-lipped about the vehicle, even the name. The brand promises the concept is based on one of its most popular models, and styling tweaks from Kia's California design studio mean a more off-road-ready appearance. When asked if the concept is a sturdier take on one of Kia's CUVs, a brand spokesperson told Autoblog, "I don't know if I would call it a crossover." The wait to learn the vehicle's true identity isn't too long, though. A teaser image and the name arrive on January 29, according to the spokesperson. We wouldn't be too surprised if Kia might not have a more rugged take on the Soul in mind. The model already gets an optional SUV Styling Pack (pictured above and below) in Europe that could serve as inspiration for this new concept. Kia Chicago Auto Show Announcement After 20 years of growth and maturation, Kia continues to carry its momentum into 2015 following a year of record sales and the arrival of the all-new 2016 Sorento CUV. Kia will embrace its challenger spirit in Chicago with the debut of an all-new concept – conceived at Kia's California design studio – that re-imagines one of the brand's most popular vehicles. Built for city dwellers seeking an adventurous escape and intended to enable a variety outdoor activities, this concept proves that practical urban wheels can also be rugged and capable. Related Video: