GS chairman tops Korea’s highest-paid executives

[THE INVESTOR] GS Group Chairman Huh Chang-soo topped a list of highest-paid executives in the first half of the year, receiving a combined 5.21 billion won (US$4.75 million) for running the refinery and retail giant, according to the nation’s financial regulator on Aug. 17.

The Korea Financial Supervisory Service unveiled wages of the nation’s best-paid executives, including conglomerate owners and CEOs, who take home more than 500 million won per year. 

Hyundai Motor Group Chairman Chung Mong-koo came second with 4.2 billion won, including 2.4 billion won from Hyundai Motor and 1.8 billion won from Hyundai Mobis. His pay was flat from a year ago. His son, Vice Chairman Chung Eui-sun earned 661 million won from Hyundai Motor.

Other top earners included Hanjin Group Chairman Cho Yang-ho, who took home 4.18 billion won; LG Group Chairman Koo Bon-moo, who was paid 3.85 billion won, including 1.914 billion won in incentives; and LG Uplus’ former CEO Lee Sang-chul, who now serves as a corporate adviser, collected 3.08 billion won.

Samsung Electronics Vice Chairman and CEO Kwon Oh-hyun, who oversees the company’s semiconductor and other component businesses, was paid 2.9 billion won, making him the highest-paid Samsung executive in the first half.

Another two co-CEOs, Shin Jong-kyun of the mobile division and Yoon Boo-keun of the home appliance division, earned 1.65 billion won and 1.64 billion won, respectively.

The three Samsung CEOs are likely to be ranked higher in the latter half considering their hefty bonuses.

By Lee Ji-yoon (jylee@heraldcorp.com)