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Hyundai to recall 27,500 Genesis sedans over brake issue

Following an investigation launched by the National Highway Traffic Safety Administration earlier this week, Hyundai will reportedly recall 27,500 Genesis sedans due to braking problems. Roughly 40,000 Genesis sedans from the 2009 model year were originally under investigation, but this official recall affects vehicles from 2009 to 2012.
A Hyundai spokesperson told The New York Times that brake fluid may cause the brake control unit valves to corrode, which reduces braking power. Affected cars will have their brake fluid replaced, and if necessary, will have the control unit replaced, as well.
The original NHTSA investigation was launched after the government agency received 23 complaints from owners citing reduced braking power and increased pedal travel. One incident reportedly resulted in a crash, while another caused a driver to lose control of the car. NHTSA has not officially announced the recall as of this writing.

Hyundai shows off six custom creations in Vegas

Hyundai rolled in to SEMA this year with an array of six customized vehicles. And while it previewed several members of that lineup in the run up to the tuner expo, it has now brought them all together under one roof – namely that of the Las Vegas Convention Center. The fleet consists of three custom creations based on the Tucson crossover, two on the Genesis Coupe, and one on the Veloster. The Tucson lineup includes one by Bisimoto, another by John Pangilinan, and a third by Rockstar Performance Garage. In typical style, Bisimoto cranked the crossover up past 700 horsepower, thanks to a high-boost turbocharger running on flex fuel. Pangilinan crafted his JP Edition Tuscon for off-road adventure with a pop-up tent on the roof, brush guards, and a lifted suspension. And Rockstar went with a Baja-style off-road competition approach with a massive 6-inch lift kit and 32-inch tires. The Genesis Coupes include one by ARK Performance and another by TJIN. The former is dubbed the Solus edition, adopting a dual focus on performance and luxury with a wide body kit, carbon-fiber trim and a supercharged V6 stroked out to 4.0 liters to produce over 500 horsepower. The TJIN edition also ups the output past 500 horses with a supercharger from Bisimoto, plus a free-flowing exhaust, intercooler, and blow-off valve. KW coilover suspension, custom body kit, and green paint job finish it off. Finally, there's the Veloster Turbo R-Spec done up by Blood Type Racing with a black paint job, red racing stripe, carbon-fiber wide-body kit, and a 1.6-liter turbo four boosted up to – you guessed it – over 500 hp. Check out five of them together (sans the Bisimoto) in the slideshow above, or each of the six in the individual galleries at bottom for a closer look - along with the details in the press release below. Related Video: HYUNDAI'S 2015 SEMA LINEUP FEATURES SIX VEHICLES BUILT BY THE INDUSTRY'S BEST TUNERS Concepts Based on 2016 Tucson, 2015 Genesis Coupe and 2015 Veloster Turbo R-Spec FOUNTAIN VALLEY, Calif., Nov. 3, 2015 – Once again, Hyundai has teamed up with some of the best vehicle tuners in the automotive community to deliver six concept vehicles for SEMA 2015. This year's builds feature three of Hyundai's all-new 2016 Tucson crossovers, two high-powered Genesis Coupes, and a Veloster Turbo R-Spec. Hyundai will be showcasing these creations at its SEMA display in Center Hall (booth #24387) at the Las Vegas Convention Center, Nov. 3-6, 2015.

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.