Highest-paid Executives

Stacks of South Korean won for delivery to commercial banks at the Bank of Korea’s headquarters in Seoul.
Stacks of South Korean won for delivery to commercial banks at the Bank of Korea’s headquarters in Seoul.

 

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.

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