Hyundai reveals CEO's pay for first time ever
 

<p>Filed under: <a href="https://www.autoblog.com/hyundai/" rel="tag">Hyundai</a>, <a href="https://www.autoblog.com/kia/" rel="tag">Kia</a>, <a href="https://www.autoblog.com/category/earnings-financials/" rel="tag">Earnings/Financials</a></p><a href="https://www.bloomberg.com/news/2014-03-31/hyundai-motor-reveals-chairman-s-pay-for-first-time.html"><img alt="SOUTH KOREA HYUNDAI PROBE" data-caption="Hyundai Motor Chairman Chung Mong-koo talks to reporters before leaving the Supreme Public Prosecutors office in Seoul, Tuesday, April 25, 2006. Prosecutors summoned Chung for questioning Monday amid a slush fund scandal engulfing South Korea's largest carmaker. (AP Photo/Ahn Young-joon)" data-credit="Ahn Young-joon / AP" data-mep="197366" src="https://s.aolcdn.com/dims-shared/dims3/GLOB/crop/2000x1554+0+0/resize/628x488!/format/jpg/quality/85/https://s.aolcdn.com/hss/storage/adam/2087fc31316116ef1be3a521a d92d4f3/61382a0e18e8da11af9f0014c 2589dfb.jpeg" /></a><br />
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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, <a href="https://www.autoblog.com/ford/">Ford</a> CEO <a href="https://www.autoblog.com/tag/alan+mulally/">Alan Mulally</a> netted $23.2 million in 2013, although the vast majority of that money came from stock options.<br />
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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 <a href="https://www.bloomberg.com/news/2014-03-31/hyundai-motor-reveals-chairman-s-pay-for-first-time.html"><em>Bloomberg</em></a>.<br />
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"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 <a href="https://www.autoblog.com/hyundai/">Hyundai</a> 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 <em>Bloomberg</em>.<p style="padding:5px;backgr ound:#ddd;border:1px solid #ccc;clear:both;"><a href="https://www.autoblog.com/2014/04/01/hyundai-reveals-ceo-pay-first-time-ever/">Hyundai reveals CEO's pay for first time ever</a> originally appeared on <a href="https://www.autoblog.com">Autoblo g</a> on Tue, 01 Apr 2014 16:30:00 EST. Please see our <a href="/rss-term-of-use/">terms for use of feeds</a>.</p><h6 style="clear: both; padding: 8px 0 0 0; height: 2px; font-size: 1px; border: 0; margin: 0; padding: 0;"></h6><a href="https://www.autoblog.com/2014/04/01/hyundai-reveals-ceo-pay-first-time-ever/" rel="bookmark" title="Permanent link to this entry">Permalink</a>&nbsp;|&nbsp;<a href="https://www.autoblog.com/forward/20860196/" title="Send this entry to a friend via email">Email this</a>&nbsp;|&nbsp;<a href="https://www.autoblog.com/2014/04/01/hyundai-reveals-ceo-pay-first-time-ever/#comments" title="View reader comments on this entry">Comments</a>

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