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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.

Kia rolls out updated Cee'd hatches in Europe

Kia makes some models specifically for the North American market, and keeps some models back at home in South Korea that we never see. But it also makes some for other markets, like the Cee'd. And now it's rolling out a revised version for the European market. Top Gear jokes aside, the Cee'd has been a popular model for Kia in Europe, selling over a million units since its introduction there nine years ago to take on the likes of the Volkswagen Golf and Ford Focus. The updated model benefits from revised styling inside and out, improved NHV refinement (particularly for diesel models), new tech, and several new engine options – all of which are now Euro 6 compliant. The biggest news, which we already knew, is the addition of a new 1.0-liter turbo three-cylinder engine. It's available in two states of tune, producing 99 horsepower or 118, but produces the same 127 pound-feet of torque either way. The 1.6-liter diesel option now packs a stronger punch at 134 hp (up from 126) and 210 lb-ft (instead of 195), and offers a new seven-speed dual-clutch transmission option. The remaining four-cylinder engines carry over essentially unchanged. The flagship Cee'd GT and Pro_Cee'd GT performance models benefit from some new trim inside and out, as well. The 1.6-liter turbo four carries over with the same 201 hp and 195 lb-ft, but a new turbocharger improves low-end response to cut a fraction of a second off the 0-62 time. There's also a sound synthesizer that replicates the engine note inside the cabin, and larger brakes available. European buyers will once again be able to choose between three body-styles: five-door hatch, extended Sportswagon and three-door Pro_Cee'd. There's also a new GT Line that offers the looks of the performance models without the mechanical upgrades (and commensurate hike in purchase and fuel costs). Dealers across the pond will begin taking delivery next month. Major upgrade for Kia cee'd with new look, new engines and improved dynamics 26-Jun-2015 Kia has today announced details of a comprehensive upgrade to its increasingly popular Kia cee'd, a model that has provided the foundation for Kia's continuing success in Europe over recent years. Kia's European designers have evolved the interior and exterior styling of the current cee'd into an exciting new look, with the powertrain team developing a wider range of engines and transmissions.

Next-gen 2021 Kia Sorento spied testing in the Alps

Kia just launched the new three-row Telluride into the world, but that doesn't mean its original seven-passenger model is going away. Far from it. The camouflaged vehicle you see here is the next-generation Sorento caught testing in the Alps while undergoing some strenuous trials. One of those happened to be towing a BMW X5, as seen in the photos. Due to the heavy amount of cladding and wrappings, it's difficult to pick out specific styling elements. However, we imagine the front fascia is going through a massive change up. It's tough to say what direction they're heading, but the openings do mimic what we see on the vehicle today. The current Sorento doesn't have an upright, tough appearance, and the prototype we see here doesn't appear to be a massive change in the status quo. Kia made the Telluride its big, butch crossover, so differentiation with that SUV is most likely necessary. Moving along the side, Kia appears to have changed up the mirror position, placing them below the window line on the doors instead of above in the A-pillar area. We can't see the door handles or body lines, but we'll assume Kia has something new and interesting cooked up under there. Finally, the most mysterious part of all is the rear end. Kia broke out the massive body armor for this one, making sure nobody can tell what's going on underneath. Perhaps the rear-end design is where we'll see the biggest changes for the Sorento. We don't imagine there will be anything extreme like a chopped and angled roof/rear window for styling purposes, though, especially if the Sorento intends to keep all three rows open for business. That said, the existence of the Telluride could prompt some changes to the vehicle's purpose in Kia's lineup. Even though Kia gave the Sorento a light refresh for 2019, this next-generation model is probably coming in the next couple years. Kia used a very light brush for that mid-cycle refresh, and this update will signal a totally new generation of the SUV. We'll expect to see new powertrains, possibly with electrification in the form of a hybrid or plug-in hybrid come into the fold. We didn't get a look inside, but given the current Sorento and luxurious new Telluride, we'd have high hopes for something quite nice.