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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 teases e-AWD Trail'ster concept ahead of Chicago

Last week, Kia dropped a teaser on our heads of a new concept it would be bringing to the Chicago Auto Show. Now it's revealed another view, and this time it's revealed the name, as well. The new concept is dubbed the Trail'ster, and it's essentially a turbocharged Soul with an electric all-wheel drive system, a retractable canvas roof and a rugged design. The shot above (depicting the back three-quarters angle from low on the ground) doesn't show us much more than the previous side shot of the nose, but as you can see, the round light theme continues around back, with lower body cladding, underbody protection panels and red-trimmed, five-hole wheels wearing chunky rubber. We'll have to hold on to find out more, but from what we've seen so far, our level of interest is officially piqued. Kia to Bring Electric All-Wheel Drive Trail'ster to Chicago Aligning form and function to conceive a uniquely compelling vehicle for the city-dweller-turned- outdoor-adventurer, Kia Motors America will take the wraps off the rugged Trail'ster e-AWD concept at the 2015 Chicago Auto Show. With its bold design, fully retractable canvas roof and smartly integrated rear electric all-wheel drive system, the turbocharged Trail'ster takes Kia's iconic Soul to a new level of expression, efficiency and capability. The Kia Trail'ster concept will be unveiled at the Chicago Auto Show on Thursday, February 12, at 9 a.m. CT.

Hyundai finally settles inflated fuel economy claims lawsuit for $41.2 million

Remember when Hyundai and Kia changed their claimed fuel economy numbers for a bunch of models? That happened back in 2012, and Hyundai has finally settled a lawsuit concerning the economy adjustment with a payment of $41.2 million. The lawsuit was filed by 33 state attorneys general, as well as one from Washington D.C. Each state will decide how to use its money from the settlement. According to Hyundai, this settlement was an "amicable agreement," and the company also denies any wrongdoing in changing claimed fuel economy numbers. Hyundai also reports that the agreement was reached, in part, due to the reimbursement program instituted after the economy adjustment. This program allows owners to be reimbursed the extra fuel cost, with payments determined by miles driven. The payments are sent after an owner has an affected car's odometer checked by a dealer. In addition, Hyundai also offered lump-sum payments as an option after the results of a class-action lawsuit. So far, the company reports about 75 percent of eligible owners have participated in the program. This isn't the only major payment Hyundai has made concerning the fuel economy issue. In 2014, Hyundai paid roughly $300 million in fines to the EPA. The company was also sued for inflated fuel economy claims in South Korea. In the US, models affected by the adjustment include the Hyundai Santa Fe, Accent, Veloster, Sonata Hybrid, Tucson, Genesis and Azera, along with the Kia Soul, Rio, Sorento, Sportage and Optima. Related Video: Image Credit: Patrick T. Fallon/Bloomberg via Getty Images Government/Legal Green Hyundai Kia