Chairman Cho Yang-rae of Hankook Tire Earns 787 Million KRW in First Half of the Year

[Asia Economy Reporter Kiho Sung] Cho Yang-rae, chairman of Korea Technology Group (formerly Hankook Tire Worldwide), received a total compensation of 787 million KRW in the first half of this year.

According to the half-year report of Hankook Tire disclosed on the Financial Supervisory Service's electronic disclosure system on the 14th, Chairman Cho received a total compensation of 785 million KRW in salary and 2 million KRW in other labor income, amounting to 787 million KRW.

The company stated, "Within the limit of the director's compensation ceiling, the salary was calculated at 1.682 billion KRW based on a comprehensive executive compensation system reflecting rank, position, job performance value, and contributions to the company," adding, "The salary is paid evenly each month as one-twelfth of the annual amount."

They also said, "In response to the management crisis caused by the global economic downturn due to the novel coronavirus infection (COVID-19), part of the executive salary was returned." Hankook Tire has been voluntarily returning 20% of salaries since May until management normalization is achieved.

This content was produced with the assistance of AI translation services.