Hyundai-Kia Group chief Chung Mong-koo tops list with 45.6 billion won
Hyundai Motor Group chairman Chung Mong-koo is to receive the greatest dividends among chiefs of the nation’s 10 largest conglomerates this year, beating his brother and last year’s No. 1 Chung Mong-joon, the major shareholder of Hyundai Heavy Industries.
Heads of the top 10 conglomerates in asset value, excluding public companies and privatized public firms, will receive a total of 171.6 billion won in dividends this year from companies that settle accounts in December, down 23.1 percent from a year ago, according to chaebul.com.
It is the first time since the global financial crisis in 2008 the dividends for the tycoons fell year-on-year.
Chung’s dividends from affiliated companies, however, surged 14.2 percent to 45.6 billion won.
Chung is set to collect 19.94 billion won from Hyundai Motor, 11.86 billion won from Hyundai Mobis, 6.48 billion won from Hyundai Glovis, 5.34 billion won from Hyundai Steel and 2 billion won from Hyundai Hysco.
Chung Mong-joon, major shareholder of Hyundai Heavy Industries and former leader of the Saenuri Party, who topped the list last year with 57.47 billion won in dividends saw a 46.3 percent plunge to 30.87 billion won this year.
Last year’s operating profit for Hyundai Heavy Industries tumbled 26.7 percent from the year before to 2.61 trillion won, prompting the company to lower the dividend per share from 7,000 won to 4,000 won.
Dividends for Samsung Electronics chairman Lee Kun-hee also plummeted 44 percent from a year ago to 28.69 billion won as major affiliates’ earnings declined.
Including the dividends from Samsung Life Insurance, which closes accounts in March, Lee garnered his largest-ever 134 billion won in dividends from listed companies last year.
Dividends for LG Group chairman Koo Bon-moo gained 2 percent to 19.1 billion won this year.
SK Group chairman Chey Tae-won’s dividends declined 14.6 percent due to his sale of shares in SK C&C to 19 billion won, and GS Group chairman Huh Chang-soo’s climbed 3.5 percent to 12 billion won.
Hanwha Group chairman Kim Seung-youn’s dividends shrank 25 percent to 7.64 billion won on aggravated earnings, while Doosan Group chairman Park Yong-hyun’s surged 20 percent, including the interim dividends, to 1.84 billion won.
Hanjin Group chairman Cho Yang-ho’s dividends nosedived from 3.81 billion won last year to 330 million won this year as Korean Air’s operating profit ducked.
Lotte Group chairman Shin Dong-bin is to receive 6.39 billion won in dividends, the same as last year.
By Kim So-hyun (
sophie@heraldcorp.com)
