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Hyundai Motor honorary chairman highest paid among chaebol families in H1

All News 21:58 August 17, 2021

SEOUL, Aug. 17 (Yonhap) -- Chung Mong-koo, honorary chairman of Hyundai Motor Group, was the highest paid person in the country's top conglomerates during the first half of the year, while Lotte Group Chairman Shin Dong-bin ranked as the top earner among incumbent business chiefs, industry data showed Tuesday.

Chung topped the list by receiving 30.23 billion won (US$25.73 million), including 29.76 billion won in severance pay, from automobile parts maker Hyundai Mobis Co., securities filings showed.

He was followed by late Shin Choon-ho, chairman of noodle maker Nongshim, with 21.43 billion won. Shin died in March.

Lotte's Shin retained his position as the highest paid sitting conglomerate boss. His compensation during the January-June period totaled 7.97 billion won, up from 6.28 billion won during the same period last year, which was also the highest amount among conglomerate leaders.

In this file photo taken on Jan. 2, 2015, Chung Mong-koo, then Hyundai Motor Group chairman, speaks to a gathering at the company's headquarters in Seoul. (Yonhap)

In this file photo taken on Jan. 2, 2015, Chung Mong-koo, then Hyundai Motor Group chairman, speaks to a gathering at the company's headquarters in Seoul. (Yonhap)

LG Group Chairman Koo Kwang-mo came in next with 6.58 billion won, followed by Kumho Petrochemical Group Chairman Park Chan-koo with 3.87 billion won and CJ Group Chairman Lee Jay-hyun with 3.85 billion won.

SK Group Chairman Chey Tae-won earned 3.84 billion won during the six-month period, while LS Group Chairman Koo Ja-yeol received 3.5 billion won.

Hyundai Motor Group Chairman Chung Eui-sun, son of Chung Mong-koo, earned 3.25 billion won during the period.

Samsung Electronics Vice Chairman Lee Jae-yong has received no salary since March 2017, as he faced trial over graft scandals.

Among business leaders not belonging to owner families, Cho Dae-sik, chairman of the SK Supex Council, the top decision-making body of the country's third-largest conglomerate, received 5.25 billion won.

In this file photo taken on July 16, 2019, Lotte Group Chairman Shin Dong-bin arrives at Lotte World Tower in eastern Seoul to preside over a second-half meeting of presidents of group subsidiaries. (Yonhap)

In this file photo taken on July 16, 2019, Lotte Group Chairman Shin Dong-bin arrives at Lotte World Tower in eastern Seoul to preside over a second-half meeting of presidents of group subsidiaries. (Yonhap)


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