Earning Disparity

The average annual salary of registered corporate directors at the 241 listed subsidiaries of 52 major Korean business groups was 626 million won last year while that of the non-executive employees was 61.9 million won.
The average annual salary of registered corporate directors at the 241 listed subsidiaries of 52 major Korean business groups was 626 million won last year while that of the non-executive employees was 61.9 million won.

 

It has been found that big businesses’ employees received a 50 percent greater annual salary last year than those working for small and mid-size enterprises.

According to the Economic Reform Research Institute and the Data Analysis, Retrieval and Transfer System of the Financial Supervisory Service, the average annual salary of those working for the subsidiaries of the 30 major business groups was 67 million won (US$65,057), which was 22 million won (US$21,362) more than that of the rest. The survey was conducted on the 1,666 corporations in Korea settling their accounts in December.

In the meantime, the average salary of the 860 inside directors in the major groups reached 615 million won (US$597,165) in the same year, whereas the amount was limited to 225 million won (US$218,475) for the other inside directors. The salary difference between inside directors and general employees was 9.18 times in big business groups and approximately 5 times in other listed companies.

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