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Hyundai chairman highest paid S. Korean CEO, $6 million over 9 months

November 17, 2015

Hyundai Motor Group Chairman Chung Mong-koo (Yonhap

SEOUL (Yonhap) — Chairman of Hyundai Motor Group Chung Mong-koo topped the list of highest-paid owners and chief executive officers of large conglomerates in South Korea, data showed Monday.

The 77-year-old was paid a sum of 7 billion won (US$5.97 million) in wages and incentives in the first nine months of the year, his company said in a regulatory filing.

The amount marks a slight drop from around 7.9 billion won he received in the same period last year.

Koo Bon-moo, chairman of the country’s fourth-largest conglomerate LG Group, came in second as he made some 4.4 billion won in the cited period.

Kwon Oh-hyun, vice chairman of tech giant Samsung Electronics Co., was paid 3.82 billion won in the January-September period, while Yoon Boo-keun, head of the company’s consumer electronics division, made 2.34 billion won.

Shin Jong-kyun, head of Samsung’s mobile division who had topped the 2014 list with over 12 billion won, made 2.29 billion over the cited period.

The drop came mostly from a near 8-billion-won cut in incentives, apparently reflecting difficulties facing the company’s mobile handset business.

Chung Eui-sun, vice chairman of Hyundai Motor and also a son of the group chairman, was paid 1.17 billion won in the first nine months of the year while Park Yong-man, top executive of Doosan Group and head of the Korea Chamber of Commerce and Industry, received about 1.05 billion won.