Highest-paid Executives
Former Standard Chartered Bank Korea CEO Richard Hill was paid 2.7 billion won (US$2.46 million) last year, making him the highest-paid CEO among financial companies in Korea. He was followed by former Citibank Korea CEO Ha Young-koo, the current chairman of the Korea Federation of Banks, who earned 2.542 billion won (US$2.319 million) for 10 months of work and took off with 4.621 billion won (US$4.216 million) when retiring.
Shinhan Investment Corporation Chairman Han Dong-woo received 1.233 billion won (US$1.125 million) last year, while Hana Financial Group Chairman Kim Jeong-tae was given 1.737 billion won (US$1.585 million). Former Shinhan Bank CEO Seo Jin-won and former Woori Bank CEO Lee Soon-woo were paid 1.21 billion won (US$1.10 million) and 1.095 billion won (US$999,001), respectively. Former KB Financial Group Chairman Lim Young-nok received 766 million won (US$698,814), and former Kookmin Bank CEO Lee Keon-ho received 566 million won (US$516,378).
In the securities sector, former Samsung Securities President Kim Seok, who resigned in November last year, was paid 1.721 billion won (US$1.570 million), making him the highest paid. The amount goes up to 2.249 billion won (US$2.051 million) when his retirement pay of 528 million won (US$481,641) is added. Tongyang Life Insurance CEO Koo Han-seo topped the insurance sector by recording 1.654 billion won (US$1.509 million).
Daishin Securities Chairman Lee Eo-ryong, in the meantime, was paid 2.01 billion won (US$1.83 million) in 2014. Korea Investment & Securities paid 501.65 million won (US$457,564) to Vice Chairman Kim Nam-koo, who is the largest shareholder of Korea Investment Holdings. Hyundai Marine & Fire Insurance Chairman Chung Mong-yoon took home 1.435 billion won (US$1.309 million), and Hyundai Group Chairperson Hyun Jeong-eun received 850 million won (US$775,302) as the chair of the board of directors of Hyundai Securities. Hyundai Card President Chung Tae-young, who received 1.549 billion won (US$1.412 million), had the highest annual pay in the credit card industry.