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Over 1.46 Trillion Won Paid in Dividend to Heads of Korean Conglomerates for Last Five Years
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Over 1.46 Trillion Won Paid in Dividend to Heads of Korean Conglomerates for Last Five Years
  • By Jung Suk-yee
  • June 16, 2016, 02:00
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Shin Dong-bin, chairman of Lotte Group under investigation by prosecutors, was paid 41.2 billion won. The amount was 6.9 billion won in 2011 but rose to 10.9 billion won last year
Shin Dong-bin, chairman of Lotte Group under investigation by prosecutors, was paid 41.2 billion won. The amount was 6.9 billion won in 2011 but rose to 10.9 billion won last year

 

It has been found that the heads of the 10 largest conglomerates in South Korea were paid a dividend of 1.4612 trillion won in total from their listed subsidiaries from 2011 to 2015.

The dividend payment to Samsung Group chairman Lee Kun-hee amounted to 681.1 billion won during the period. The amount added up to 182.4 billion won in 2015 alone. He was followed by Hyundai Motor Group chairman Chung Mong-koo, who received 306.4 billion won for the five years and 88.7 billion won last year.

SK Group chairman Choi Tae-won and LG Group chairman Koo Bon-moo recorded 160.4 billion won and 102.3 billion won for the five years, respectively. During the same period, Lotte Group chairman Shin Dong-bin was paid 41.2 billion won. The amount was 6.9 billion won in 2011 but rose to 10.9 billion won last year.

In the meantime, Hyundai Heavy Industries chairman Chung Mong-joon received 65.6 billion won between 2011 and 2013 but the amount dropped to zero in 2014 and 2015. Hanjin Group chairman Cho Yang-ho ranked at the bottom of the list with a five-year total of 2.9 billion won. 

These amounts consist of dividend payments from the groups’ listed subsidiaries. Therefore, the actual amount paid to the heads of the conglomerates is likely to be much greater in that the groups have a number of non-listed subsidiary companies.