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Lotte Group chairman ranked highest-paid biz leader in S. Korea during H1

All News 22:04 August 14, 2020

SEOUL, Aug. 14 (Yonhap) -- Lotte Group Chairman Shin Dong-bin ranked as the highest-paid business leader among the country's top 10 conglomerates during the first half of this year, industry data showed Friday.

Shin received 6.28 billion won (US$5.3 million) in wages during the January-June period from six group affiliates. The amount was down from 7.9 billion won he earned during the same period last year.

The decline stemmed from his resignation as head of Lotte Engineering & Construction last year, while his pay from Lotte Hotel halved.

This file photo shows Lotte Group Chairman Shin Dong-bin. (Yonhap)

GS Group Chairman Huh Tae-soo came next by earning 6 billion. Of that, some 5.1 billion won came from retirement grants he received from GS Home Shopping.

LG Group chief Koo Kwang-mo ranked third with his first-half wages reaching 5.82 billion won, which represented an 81 percent rise from a year earlier and was higher than his annual salary of 5.39 billion won.

Among the high-paid business leaders are Hyundai Motor Group Executive Vice Chairman Chung Eui-sun, who received 2.18 billion won. His father and Hyundai Motor Group Chairman Chung Mong-koo earned 2.43 billion won.

SK Group Chairman Chey Tae-won earned 3.9 billion won during the same period, though it was about 100 million won lower than a year earlier.

Samsung Electronics Vice Chairman Lee Jae-yong continued to receive no salary during the first half, as he has done since March 2017 after he faced trial over a graft scandal.

Meanwhile, Kwon Oh-hyun, known for his rise from a salary worker to a top position at Samsung, earned 11.3 billion won, the largest amount of wages for business leaders not belonging to owning families, the data showed.

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