2.7X Increased: Board Directors of Samsung Electronics Paid Around $6.1M on Average for Past 9 Months | BusinessKorea

Friday, March 23, 2018

The amount paid to the board members of Samsung Electronics increased 2.66 times in a year.
The amount paid to the board members of Samsung Electronics increased 2.66 times in a year.
Seoul, Korea
16 November 2017 - 3:00am
Jung Suk-yee

Four board members of Samsung Electronics including vice chairman Lee Jae-yong received totally 27.15 billion won (US$24.4 million), equivalent to approximately 6.8 billion won (US$6.1 million) per person for the past nine months of this year, according to the company’s third quarter performance report.    

The payment increased 2.66 times in a year compared to that paid for the previous four members (three members are same) during the same period of last year, It is also nearly 111 times the 61 million won (US$54,700) of average pay for company employees. 

The report did not specify the amount paid to individual board members, but Kwon Oh-hyun, former head of the company's semiconductor business unit, is likely to have received more than half of the total. Up to the end of second quarter this year, Kwon, who was recently repositioned as chairman of the Samsung Advanced Institute of Technology, had received 13.98 billion won (US$12.5 million) in total, which was more than double of the 5.05 billion won (US$4.5 million) that vice chairmen Yoon Bu-geun and Shin Jong-gyun received each. Vice chairman Lee Jae-yong received 84.7 million won (US$762,000) during the same period. 

Outside directors were given 59 million won (US$53,000) on average per person. The outside directors who also carry audit jobs paid 65 million won (US$58,000) on average.

The general shareholders’ meeting of Samsung Electronics allowed it pay up to 55 billion won a year to the nine registered people on the board of directors, including auditors, outside directors.   


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