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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 NA CEO Krafcik awarded Automotive Executive of the Year

Hyundai North America CEO John Krafcik is this year's Automotive Executive of the Year. DVN Business Assurance presents the award each year, and this year, Robert Djurovic, executive director of the award program, said Krafcik won the nod because he "reshaped the way Hyundai approaches the market with consumer focus, compelling design and enduring value." While speaking at the award ceremony, Krafcik said that he was humbled by the recognition and that he accepted the accolade on behalf of Hyundai team members, dealers and suppliers.
Krafcik joined Hyundai in 2004 as the vice president of product development and took on duties as chief executive in 2008. Since then, the automaker has seen a flurry of new products and a substantial jump in market share. His efforts have also helmed Hyundai to two North American Car of the Year awards in 2009 and 2012 for the Genesis and Elantra, respectively. Krafcik also helped Hyundai navigate through the company's fuel economy debacle that began late last year, in which the automaker admitted it overstated the efficiency ratings of many of its automobiles.
The Automotive Executive of the Year Award has been recognizing industry leaders since 1964. You can read the full press release below for more information.

Hyundai testing facelifted Veloster Turbo in Germany

Love it or hate it, you have to admit that Hyundai went against the cookie-cutter norm when it unveiled the Veloster in 2011. And to many eyes, its oddball shape is still refreshingly original. But in the three and a half years since, Hyundai has moved its design language onwards, so it's about time the Korean automaker bring the quirky three-door (or novel four-door, depending on the angle from which you look at it) into the fold. And that's just what it appears to be doing in these latest spy shots.
Though it's hard to tell much from underneath the heavy camouflage, it's clear from these spy shots that this is indeed the Veloster, and given the center-exit dual exhaust tips, it seems to be the Turbo model and not the base naturally aspirated version. It seems to be wearing a bigger grille like the one Hyundai put on the latest Genesis, among others, and new bumpers front and back as well. The half-door on the right side does appear to be carrying over, it's wearing new wheels, and we're told there seems to be something afoot inside the cabin as well - likely revolving around an updated infotainment system.
Whether there are any consequential mechanical changes as well, we don't know. That said, development seems to be in a fairly advanced stage, so we wouldn't be surprised to see a refreshed Veloster on the show stand sometime later this year or early next at the latest.