Naver doles out hefty bonuses to executives

Naver gave out hefty stock bonuses to its 98 executives worth a combined 3.1 billion won ($2.78 million), the company said Tuesday, after the tech giant raked in record-high profits last year.

CEO Han Seong-sook received 1,000 treasury stocks of the firm, amounting to 355 million won based on Thursday’s closing price of 355,000 won apiece.

Chief Operating Officer Choi In-hyuk, Chief Communications Officer Chae Sun-joo and Chief Financial Officer Park Sang-jin received 700 shares each, worth 248.5 million won.

A total of 8,820 treasury stocks have been doled out.

Naver has previously paid incentives in cash, but the company this year paid out both in cash and treasury stocks to celebrate the all-time high performance last year.

In 2020, Naver’s revenue marked 5.3 trillion won in total, while operating profit climbed to 1.2 trillion won, up 21.8 percent and 5.2 percent, respectively, from a year earlier.

By Shim Woo-hyun (ws@heraldcorp.com)