2013 Hyundai Elantra Limited 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.

2014 Hyundai i40 Tourer / Sonata wagon

Recently, we took a vacation to Australia, because sometimes we have to get away from all of that other travel and good living that we withstand in order to bring you the latest car news. While there, we grabbed the keys to a Hyundai i40 Tourer, essentially the Sonata wagon we never got a chance to love here.
Even though it didn't have a manual transmission, it did have a diesel and, for reasons beyond that oil-burner, our enduring affections. No, this story will not include another plea for Hyundai to bring it to the US - it likely wouldn't stand a chance against our crossover- and size-crazed mania, but it's a brilliant fit for markets that appreciate tidy haulers.

Hyundai Sonata successor to seek evolution, not revolution

Hyundai hit a home run with its current-generation Sonata midsize sedan, so don't expect the Korean automaker to make revolutionary changes when its replacement comes out for the 2015 model year. The four-door sitting in showrooms today was launched in 2010 with radical new lines that marked a big departure from its rather bland predecessor. Even with stiff competition from the Honda Accord, Ford Fusion and Toyota Camry - all newer designs than the Sonata - sales have been strong. Consumers embraced its new design language, taking home a record 230,605 units last year.
"I think we found a design language that works, the 'Fluidic Sculpture' stuff, so I would say (the new styling) is not pulling back in any way. It's more continuing to refine on that same trajectory that we're on," John Krafcik, Hyundai U.S. CEO, told WardsAuto in a recent interview. Consumers don't seem to be fazed by the its age either. "A lot of consumers are just entering (the) midsize (segment) for the first time. They don't see (the Sonata) as a three-year-old car. They see it as, 'Whoa, that's a pretty good-looking midsize car,' so it's doing quite well," added Krafcik.
Sonota sales have been down over the last few months, but Krafcik says that is a reflection of the automaker's decision to increase production of its Elantra compact at the Montgomery, Alabama, plant - where both are built - and a limited supply of its mid-grade GLS Sonata model.