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Executives at KOSDAQ-listed firms see higher income gains last year: data

All Headlines 11:07 April 02, 2016

SEOUL, April 2 (Yonhap) -- Executives at firms listed on the secondary stock market posted higher income gains last year than those at companies on the main bourse, aided by overall growth of such smaller firms, data showed Saturday.

Executives at companies listed on the secondary tech-heavy KOSDAQ market earned an average annual income of 1.09 billion won (US$946,180) per person last year, up 17.04 percent from a year earlier, according to financial data provider FnGuide.

But per-capita annual income for high-paid officials at listed firms on the main bourse amounted to an average of 1.29 billion won in 2015, down 6.1 percent from the previous year, it said.

FnGuide compiled data based on executives who earned more than 500 million won in pre-tax annual income in 2015 at companies listed on the main and secondary stock markets.

Market watchers said that the results were mainly attributed to the growth trend of companies on the KOSDAQ market.

A total of 698 KOSDAQ-listed firms posted a 6.35-percent on-year gain in sales to 130 trillion won last year. Their combined operating profit rose 8.66 percent on-year to 7 trillion won, according to the bourse operator.

But companies listed on the main share market saw their sales decline though their operating profit gained ground.

A total of 516 non-financial firms listed on the main bourse posted a combined operating profit of 102.2 trillion won last year, up 14.22 percent from a year earlier. But their sales declined 3.01 percent to 1,639 trillion won.

"As KOSDAQ-listed firms posted stronger growth than those listed on the main stock market, this trend seems to affect executives' income," said Hwang Sei-woon, a research fellow at the Korea Capital Market Institute.

Annual salary for executives in the semiconductor sector increased the most last year, the data showed.

An average of annual income for those reached 1.48 billion won per person in 2015, up 59 percent from the previous year.

sooyeon@yna.co.kr
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