GS chairman brings home highest pay among CEOs

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GS chairman brings home highest pay among CEOs

Huh Chang-soo, chairman of retail and refinery conglomerate GS Group, took home the biggest paycheck among conglomerate owners, making 5.2 billion won ($4.6 million) in the first half of the year. His position was previously held by Hyundai Motor Group Chairman Chung Mong-koo.

Chung, his predecessor, made 4.2 billion won while Hanjin Group Chairman Cho Yang-ho closely followed with a 4.1 billion won salary.

The figures from the Financial Supervisory Service include only top management who are registered executives. Non-registered executives such as Lee Jae-yong, vice chairman of Samsung Electronics, and his father Lee Kun-hee aren’t included on the list.

Huh of GS Group reportedly received 3.9 billion won from GS Corp. and 1.3 billion won from GS E&C. Huh’s paycheck, which included 2.8 billion won in bonuses from GS Corp., is a significant increase of 188 percent compared to a year ago.

Hyundai Chairman Chung received 2.4 billion won from Hyundai Motor while he also earned1.8 billion won from Hyundai Mobis. He pocketed a similar amount last year.

His son and heir to the largest automotive group in the country, Chung Eui-sun, took home 661 million won from Hyundai Motor, a 1 million won decrease in salary from a year ago,

Cho of Hanjin Group made 1.8 billion won at Korean Air, 1.6 million at Hanjin Kal Corp. and 674.2 million at Hanjin Corp. He has not received any payment from the struggling shipping affiliate Hanjin Shipping, which is currently in a self-restructuring plan.

LG Group Koo Bon-moo came in fourth, earning 3.8 billion won. He received 1.9 billion won in salary and another 1.9 billion won as bonus.

The fifth and six positions were executives who aren’t members of the founding families.

Lee Sang-chul, former LG U+ vice chairman and CEO and now adviser to the company, earned 3 billion won. The figure included his retirement pay.

Samsung Electronics Vice Chairman Kwon Oh-hyun took sixth place with 2.9 billion won. Samsung’s CEO of IT mobile Shin Jong-kyun, who is also known as J.K. Shin, pocketed 1.66 billion won in the first half while Yoon Boo-keun, chief executive of the consumer electronics business, followed with 1.64 billion won.

The seventh spot went to SK Innovation board chairman Kim Chang-geun, who earned 2.5 billion won.

Interestingly, SK Group’s Chairman Chey Tae-won, who was pardoned a year ago from a prison sentence that he had served since 2013, took home 575 million won in the first half.

In the IT sector, KT Hwang Chang-gyu Chairman earned 1.1 billion won while Naver founder and chairman Lee Hae-jin took home 770 million won. The web portal company’s CEO Lee Sang-hun earned more than his chairman, earning 1.8 billion won.

In the financial sector Kwon Yong-won, CEO Kiwoom Securities, received the highest pay of 2.6 billion won, followed by Yoon Kyung-eun, Hyundai Securities, with 2.3 billion won.

Chung Tae-young, Hyundai Securities’ CEO, earned the highest among financial industry executives, raking in 1 billion won this year.


BY LEE HO-JEONG, HA NAM-HYUN [lee.hojeong@joongang.co.kr]

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