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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 recalls 43k Genesis and Equus models for faulty lighting

As you can imagine, it'd be a bit of a problem if the brake lights on your car didn't work. And that, unfortunately, is precisely the problem that Hyundai has found with some of its higher-end offerings, prompting the Korean automaker to issue a recall. (One of a great many recalls issued by the National Highway Traffic Safety Administration today, as you can no doubt see.) The problem apparently revolves around a failure in the circuit that's supposed to illuminate the taillights when the driver hits the brakes. If that doesn't work, of course, the vehicle behind would be more likely to crash into the Hyundai in question. As a result, Hyundai is recalling precisely 42,925 units, split between the 2009-2011 Genesis (manufactured between April 30, 2008, and November 21, 2010) and the 2011 Equus (manufactured between July 31, 2010 and November 21, 2010). Owners of those vehicles will be notified to bring their vehicles in to have their brake light circuits repaired. RECALL Subject : Inoperative Stop Lamps Report Receipt Date: NOV 07, 2014 NHTSA Campaign Number: 14V713000 Component(s): EXTERIOR LIGHTING Potential Number of Units Affected: 42,925 Manufacturer: Hyundai Motor America SUMMARY: Hyundai Motor America (Hyundai) is recalling certain 2009-2011 Hyundai Genesis vehicles manufactured April 30, 2008, to November 21, 2010, and 2011 Hyundai Equus vehicles manufactured July 31, 2010, to November 21, 2010. Due to a circuit failure, the stop lamps in the affected vehicles may not illuminate. CONSEQUENCE: A following vehicle may not recognize that the vehicle is slowing or coming to a stop if the stop lamps on the vehicle do not illuminate as expected. There is an increased risk of a rear-end crash as a result. REMEDY: Hyundai will notify owners, and dealers will repair the stop lamp switch circuit, free of charge. The manufacturer has not yet provided a notification schedule. Owners may contact Hyundai customer service at 1-714-865-3920. Hyundai's number for this recall is 125. NOTES: Owners may also contact the National Highway Traffic Safety Administration Vehicle Safety Hotline at 1-888-327-4236 (TTY 1-800-424-9153), or go to www.safercar.gov.

Hyundai Kona joins compact-crossover fray

This week in Seoul, South Korea, Hyundai finally pulled back the covers on the all-new Kona, the automaker's first compact crossover. The Kona enters one of the hottest segments on the market and will compete straight against Honda HR-V, Toyota C-HR, and Fiat 500X. The stylish Kona slots below the larger Santa Fe and Tucson, filling out the Hyundai's crossover offerings. The new model goes on sale in Korea later this month, hitting showrooms in Europe and the US later this year. Like others in this segment, the Kona sells itself on style as well as substance. The design is more aggressive than Hyundai's other crossover offerings, though the automaker says it hints at a new direction for other products. After a few years of conservative design throughout its lineup, Hyundai has returned to the bold direction that kicked off with the sleek 2010 Sonata. The Kona's large, shield-like grille is similar to that on the new Elantra GT and refreshed Sonata. There's a wide air scoop just above the new grille. There's a lot of outside influence on the design. The rest of the body has a taut, masculine look. Big fenders and sharp creases carry on the rugged look. Hyundai is calling the black cladding "armor," though we're not sure exactly how much it protects. It's going to be a divisive design choice for sure. Like the Toyota C-HR, the Kona can be had with a contrasting roof color. The Kona makes use of LED lighting both front and rear, though the low placed headlights remind us of the controversial ones on the Jeep Cherokee. The taillights are wide, slim units that aren't like anything else in Hyundai's lineup. Like so many compact crossovers, it looks more like a high-riding hatchback than a shrunken SUV. It's a handsome design though that's more tough than cute. The interior has been designed with efficiency first. Hyundai boasts that the Kona has the best-in-class interior space. The simple layout is far more conservative than the exterior, but it appears well designed and well arranged. Like the Elantra GT, the infotainment screen sits above the dash like a tablet. It's a common design feature, though not always a popular one. The Kona can be had with a 5, 7, or 8-inch infotainment display, though availability depends on the market. Higher-spec models come with Apple CarPlay, Android Auto, HD and satellite radio, a rearview camera, and in the US, 4G telematics. The Kona will have wireless smartphone charging.