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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 Optima Sportwagon spied before Geneva

Kia showed off the Sportspace concept at the Geneva Motor Show this year, and we knew at the time that it previewed design elements that would migrate to the Optima sedan. On top of that, it's keeping its hump to transition into the Optima Sportwagon for what we presume will be audiences outside the US. When we asked Kia about the chance of it coming here, a company spokesman responded: "Right now we don't have plans to bring the Optima Sportwagon to the US but we are continuously studying the market and looking for new opportunities. The all-new 2016 Optima midsize sedan is one of our best selling vehicles and at this time we are focused on its launch in the U.S." Now in prototype form, spy photographers caught engineers testing the Sportwagon out on German roads. The roofline declines as it makes its way to the back, a nod to the concept and a sporty profile. Otherwise design matters appear quite toned down compared to the concept, which shouldn't be a surprise. And in spite of commenters who promised Kia their money if the South Korean automaker would produce the Sportspace with all-wheel drive and something like 400 horsepower, what buyers will really be faced with is front-wheel drive and a 2.0-liter turbocharged engine with around 250 horsepower. A plug-in hybrid is said to be on the cards, too. Spy shooters said they saw Volkswagen Passat and Ford Mondeo wagons at the Kia test facility, so you know the benchmarks and have more proof that it's not for us. It's expected to make its production appearance at next year's Geneva Motor Show.

Kia previews drop-top Optima for SEMA

You don't see a lot of four-door convertibles these days, but that's just what Kia has in store for the SEMA show this year. It's called the A1A, and it's based on the Optima sedan you can pick up at your local showroom. Just don't expect this one to go into production anytime soon. The Kia Optima A1A concept is just one in a series of regional specials that the Korean automaker is preparing for the tuner expo in Las Vegas. It's already given us glimpses at a Sorento inspired by the Northwest Coast, and a Forte Koup that pays tribute to the South. The Optima A1A joins in on the action to represent Florida, adopting not only an open-air body-style but also suicide rear doors and 20-inch chrome wheels fitted on a dropped coilover suspension. It's all done up in bright teal with an off-white leather interior. The turbo four produces the same 245 hp as stock, but is fitted with a high-performance exhaust. It's one of six concepts - four of them never seen before - that Kia will be presenting at SEMA this year, and we're looking forward to seeing what the next one will look like before there'll all presented in full on Tuesday. Related Video: KIA'S 2015 SEMA PRESS CONFERENCE INFORMATION America's wanderlust is found from coast to coast and everywhere in between. The A1A Optima takes inspiration from the iconic Florida A1A highway by letting the sunshine in and taking the all-new 2016 Optima in a new direction with its sliced top, shortened windshield and room for four. Reinforced steel tubes have been discretely hidden within the body so that the vehicle retains a rigid structure. The back doors of the A1A Optima swing open on rear-mounted hinges, adding a touch of whimsy and fun while complementing the roadster style. A gleaming set of 20-in. wheels are bolted to a Ksport coilover suspension, which dramatically lowers ride height. Soft butter-cream leather bucket seats up front and custom double buckets in back are separated by extended armrests and a custom center console. The powerful 245-horsepower turbocharged four-cylinder engine is combined with a high-performance exhaust. Kia Motors America will unveil four all-new custom vehicles at its press conference Tuesday, November 3 at 9:00 AM, booth #10809