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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.

Hyundai/Kia's Prius rival to arrive by 2017

The Toyota Prius is the undisputed king of the hybrid market, but Hyundai and Kia are hoping to challenge its reign in the coming years with their own dedicated model. However, in all likelihood this is the same technology being shared between them. "We will take the lead in the future by raising the competitiveness of our environment-friendly cars like hybrid-only cars, plug-in hybrid cars and fuel cell hydrogen cars," Hyundai Motor CEO Kim Choong-ho said to Reuters, during the launch of another vehicle in South Korea.
While Kim didn't say when the model would be ready, Autocar in Europe spoke to people at Kia, who said that the company's own hybrid was two years away and codenamed the DE. The initial vehicle is reportedly a five-door hatchback that's about 169-inches long, with more conventional styling than the Prius. Its powertrain is reportedly based around a 1.6-liter engine with electric assist. A plug-in version might follow later, and other bodystyles on the platform are possible. A recently spotted test mule might show the current state of development on the project (pictured above).
According to Reuters, the decision for the new vehicle comes in order to meet tighter emissions in some markets. However, it seems like a challenging move for the US market. Hyundai already sells its Tucson fuel cell in limited quantities and the Sonata hybrid, and Kia has the Optima hybrid and Soul EV. Industry analysts are also predicting that hybrids might have a hard time versus internal combustion engines in the coming years. In addition, Toyota is rumored to get fuel economy close to 60 miles per gallon for some versions of the next Prius. All of these factors make selling the models here a potentially difficult undertaking.

2014 Kia Soul priced from $14,700*

Kia has announced pricing on the refreshed 2014 Soul. At $14,700 (*plus a destination charge of $795), the new funky crossover undercuts its two primary competitors, the Scion xB and Nissan Cube, by $2,850 and $2,060, respectively. That base model includes 16-inch alloys, cruise control, wheel-mounted audio controls and a 1.6-liter, four-cylinder engine with 130 horsepower and 118 pound-feet of torque.
The mid-range model, the Soul Plus, demands $18,200 and adds a spate of exterior items, like 17-inch wheels and chrome trim, to class up the Soul's look, not to mention a 164-horsepower, 2.0-liter, four-cylinder engine. Plus customers also have access to a number of option packages, including a $400 pack that adds Kia's UVO infotainment system and a backup camera. A $1,400 Audio Package adds navigation, an eight-inch display, an Infinity stereo and automatic temperature controls. A $3,000 Primo Package adds a few notable luxury items, like a panoramic sunroof, heated leather seats, and push-button start. Finally, a $400 Eco Package adds stop-start technology and replaces the 17-inch wheels with 16s shod in low-rolling-resistance tires.
The top-of-the-line Soul Exclaim starts at $20,300 and comes with LED running lights, LED taillights, 18-inch wheels and the Plus's UVO Package as standard. Buyers can opt for The Whole Shebang, a $2,500 option pack that apes the Primo Package from the Plus. Weirdly, the Audio Package from the Soul Plus is an extra $1,200 on the Exclaim, and has been rebranded the Sun and Sand Package. Feel free to peruse the press release below for more.