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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 reveals all-new Sonata in South Korea

We've seen the spy shots. We've seen the teasers. We've even seen the finished product uncovered in its home market. But now Hyundai has officially taken the wraps off its new Sonata, consistently one of its top sellers in North America that was surpassed only recently in the sales charts by the smaller, cheaper and slightly newer Elantra. It's Hyundai's challenger to the likes of the Toyota Camry, Honda Accord, Nissan Altima, Ford Fusion et al, which makes it a vital debut not only for Hyundai but for anyone in the market for a mid-size family sedan - and that's one of the biggest markets of all.
Set to be revealed at the New York Auto Show in a matter of mere weeks, the all-new 2015 Hyundai Sonata you see here is the latest representation of a more toned-down family design language which Hyundai calls Fluidic Sculpture 2.0, following the lead set by the new Genesis and away from the swoopy and sharply creased styling of the successful but stylistically divisive model it replaces. A good inch longer and wider than the outgoing Sonata, the new model is also over a third more rigid, thanks in no small part to the use of high-strength steel that now composes over half of the body's construction.
The all-new 2015 Hyundai Sonata follows the lead set by the new Genesis and away from the swoopy and sharply creased styling of the model it replaces.

Goes Both Ways: Free-trade pact sees South Korean brands losing share at home

France has been vocal, but not alone, in noting the rise of the South Korean automakers in Europe. The signing of a free-trade pact in 2011 between South Korea and the EU, along with the especially value-conscious buyers in a crisis-stricken Europe, has seen market share increases measuring in the double digits for Hyundai and Kia - analysts expect 14-percent growth for the two in 2012.
A report in Bloomberg has found that there's pain at the other end, too: The pact more than halved import tariffs on European cars headed to South Korea to 3.2 percent, and prices are now close enough to domestic offerings for more South Koreans to pay the premium for foreign luxury nameplates and the cachet they confer. Products sold by the five domestic automakers hogged 92 percent of the market last year, and sales have dropped 5.2 percent this year whereas import sales have risen by 24 percent. This will mark the first year that imports claimed ten percent of the market; compare that to 2002, when domestic market share in the world's 11th largest auto market was 99 percent.
The Germans are at the head of the arrow, counting for 65 percent of imported car sales, but every foreign maker has seen double-digit gains. Analysts think foreign makes could ultimately grab 15 percent of the market.