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Salary of public sector CEOs gains 8.2% in 2016

The average salary of public corporations' CEOs climbed 8.2 percent in 2016 from a year earlier to recover the 200 million-won ($178,000) level in three years, a market tracker said Wednesday.

The salary of CEOs of 35 public companies averaged 201.2 million won last year, up 15 million won from the previous year, according to CEO Score.

The salary includes the base pay and various benefits. Their average base pay accounted for 61.7 percent of last year's salary.
 
Cho Hwan-eik, CEO of state power company Korea Electric Power Corp. (Yonhap)
Cho Hwan-eik, CEO of state power company Korea Electric Power Corp. (Yonhap)

The average salary of public sector CEOs hovered above the 200 million won mark in 2012 and 2013 before falling below the level in 2014 due to government measures to overhaul their sprawling operations.

The government began to get tough on public-sector excesses in 2013 and moved to reduce debt and unwarranted welfare benefits received by public sector workers.

According to CEO Score, Cho Hwan-eik, head of state power company Korea Electric Power Corp., received the largest salary of 281 million won. KEPCO pulled off a stellar performance last year by registering 5 trillion won in operating income. (Yonhap)
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