Shin Jong-kyun, Samsung Electronics’ IT & mobile division president, was ranked as the highest paid executive for the first nine months of the year at 12 billion won (US$10.9 million). (image: Samsung Electronics)
SEOUL, Nov. 16 (Korea Bizwire) — Of all registered executives of Korean publicly listed firms, Shin Jong-kyun, Samsung Electronics’ IT & mobile division president, was ranked as the highest paid executive for the first nine months of the year at 12 billion won (US$10.9 million).
Chung Mong-koo, Hyundai Motor Group chairman, won the top position among business group chairmen at 7.9 billion won ($7.2 million).
On November 14, major publicly traded companies announced the salaries and bonuses of their top managers. As the list of those subject to disclosure is restricted to registered executives, the data on some business group owners were not included in this.
As expected, Samsung executives swept the top-ten list. Even though their take-home income shrank in the second and third quarter as the company posted less impressive financial performance, the compensation received during the first quarter based on last year’s results had the most impact in determining the ranking.
Mr. Shin took in a total of 12,034 million won, including 1,296 million won in salaries, 1,644 million won in bonuses, and 9,094 million won in other incomes, overtaking other three Samsung executives. He was followed by device solutions business vice chairman Kwon Oh-hyun (6,257 million won), consumer electronics division president Yoon Bu-geun (3,611 million won), and chief financial officer Lee Sang-hoon (2,426 million won).
In Samsung Group units other than Samsung Electronics, Samsung SDI president Park Sang-jin was ranked No. 1 with 2,320 million won. Another Samsung SDI president in charge of components Cho Nam-sung was paid 738 million won.
Others like Samsung Electromechanics president Choi Chi-joon, Samsung Display president Park Dong-geon, and Samsung Techwin president Kim Cheol-gyo were given 1,260 million won, 1,211 million won, and 611 million won, respectively.
Heads of non-electronics affiliates like Kim Shin, president of the trading unit of Samsung C&T, and Choi Chi-hoon, president of the construction unit of Samsung C&T, also were paid 1,858 million won and 1,200 million won, respectively.
By Sean Chung (schung10@koreabizwire.com)
