Samsung Electronics Vice Chairman Kwon Oh-hyun was South Korea's highest paid chief executive in 2015, as the professional manager topped executive annual salary rankings with 14.95 billion won (US$13 million), company data filed with the Financial Supervisory Service showed Thursday.
Shin Jong-kyun and Yoon Boo-keun, who are respectively in charge of Samsung's IT and mobile communication and consumer electronics divisions, earned 4.8 billion won and 3.7 billion won, respectively, according to the filings.
Samsung Electronics Vice Chairman Kwon Oh-hyun (Yonhap)
Kwon's annual wages jumped nearly 60 percent from 9.38 billion won in 2014. In contrast, Shin's salary plunged from 14.57 billion won, apparently affected by slowing growth in the company's handset business, industry watchers explained. Samsung's net income fell to
19.06 trillion won last year from 23.39 trillion won a year earlier.
Meanwhile, Hyundai Motor Group Chairman Chung Mong-koo was paid
9.8 billion won last year, down from the previous year's 21.57 billion won due to declining profit in the world's fifth-largest carmaker.
Hyundai Motor Co. posted a 15 percent on-year decline in net profit last year at 6.509 trillion won. Kia Motors Corp., its 34 percent-owned affiliate, also reported a 10 percent drop in net income to 2.531 trillion won.
The won's strength against major currencies cut into their dollar-denominated earnings when repatriated into the local currency.
LG Group Chairman Koo Bon-moo received 5.34 billion won last year, up 21 percent from a year earlier.