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Number of executives earning over W500 mln a year on the rise

All News 11:52 April 01, 2016

SEOUL, April 1 (Yonhap) -- A total of 748 corporate executives in South Korea earned more than 500 million won (US$437,000) in annual salary and other incomes in 2015, marking a rise of 3.9 percent from 720 executives in the previous year, a stock-evaluating website said Friday.

Market research company Chaebul.com said it surveyed the paychecks of the standing board members at 2,643 companies nationwide with their incomes, cited in the data, including severance pay and stock options.

The nation's 10 largest conglomerates accounted for 191 executives, 25.5 percent, of the total.

Samsung Group topped others in the number of large-income executives, totaling 49 executives, or 6.6 percent of the total.

Samsung was followed by Hyundai Motor Group with a 3.9-percent share, SK Group with 3.5 percent and LG Group with 2.9 percent, the company said.

Among the highest-paid executives, Samsung Electronics Vice Chairman Kwon Oh-hyun ranked first with an annual income of 14.95 billion won last year, up 59 percent from the year before. Hyundai Motor Group Chairman Chung Mong-koo was paid 9.8 billion won, down 30 percent from 14 billion won.

Executives at loss-making companies also made it to the rankings.

Hyundai Group Chairwoman Hyun Jeong-eun bagged 4.53 billion won though some group affiliates are under stringent restructuring. Doosan Heavy Industries & Construction Co. Vice Chairman Park Ji-won received 1.76 billion won.


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