2014 Kia Soul Base on 2040-cars

Auto blog

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 GT getting closer to production

The Kia lineup in the US has no lack of stylish models in their respective segments, but the brand's range doesn't have a larger, sporty model to appeal to more enthusiast-minded customers. A fix for that is on the horizon, though, because the official unveiling of the production Kia GT is possibly on the way. Since debuting at the Frankfurt Motor Show way back in 2011, the GT has kept tentatively stepping closer to the showroom. Coming from the pens of Peter Schreyer and his team, the concept presented a fastback, four-door coupe that was motivated by a 3.3-liter turbocharged V6 with 389 horsepower driving the rear wheels. As far back as 2013, the vehicle was reportedly being heavily considered for production, and last year it allegedly finally received the green light. With the four-door GT nearing showrooms, the fate of the similarly sized GT4 Stinger coupe concept likely isn't quite so bright. Kia Motors America Vice President of Product Planning Orth Hedrick recently talked about the future of both vehicles to Australia's Drive. "I think for us the GT is a sedan so it has a lot broader appeal than a two-door coupe. They don't do well here. They do really, really good for 18 months and then they really fall off. You can get just as much emotional experience in a sedan, a more practical car, than a coupe," he said. According to Hedrick, the four-door coupe appeals to younger buyers who are already more interested in cars. These are just the type of people that any brand wants to grab the attention of. Finally seeing the GT in its production guise is a chance that might be on the way, too. "We'll have an announcement soon," he said to Drive.

New electric Kia spied, looks like the production version of the Imagine Concept

Last we heard, Kia had plans to bring forth a production version of the Kia Imagine Concept vehicle. These spy photos today suggest that the intel was good, and Kia is well on its way to transforming its concept into a production car. The shape and proportions of the heavily camouflaged car seen in photos here are the two most intriguing elements. From the side, this vehicle looks like a short, lifted wagon. One look at the Imagine Concept is all you need to know where this one is going, though. Its roof slopes further downward the closer you get to the rear of the car, and despite the black tenting, we can still see that it’s going to have a heavily raked rear window like the concept. In a nutshell, the best way we can describe this thing right now is a cross between a wagon and a “crossover coupe.” Kia called the concept a sedan, but the higher-than-normal ride height suggests something in the same vein as the V60 Cross Country. One other big element in all of this is its powertrain. The Kia Imagine Concept is an electric car, so we can assume that Kia is going to keep the production version of it electric. ThereÂ’s no sign of an exhaust hanging out under there. ItÂ’s a pretty safe bet that this camouflaged tester is electric, which will just add to the legion of electric cars Hyundai and Kia have on the way or at dealerships now. The last new electric car out of Korea that we spied was the 45, which is yet another EV based on a recent concept car. Assuming the coronavirus didnÂ’t knock the Imagine ConceptÂ’s timing too far off track, we expect to see it revealed in full in 2021. The concept was revealed in Geneva, so that would suggest that itÂ’s definitely bound for Europe. However, itÂ’s unclear whether Kia will also sell the vehicle here. With the illusion of it being a crossover, Kia might try its luck. If there are Kias it reminds us of the most, though, itÂ’s the XCeed and ProCeed. Obviously, we donÂ’t get either here, which is a shame because the new ones are rather attractive. We will hopefully have more concrete news on this car in the coming months or in 2021. Related video: