Shinsegae Family's Total Salary Last Year 14.2 Billion KRW... Jeong Yong-jin 3.3 Billion KRW, Jeong Yoo-kyung 2.9 Billion KRW

Jung Yong-jin, Vice Chairman of Shinsegae Group. [Image source=Yonhap News]

[Asia Economy Reporter Lim Chun-han] It has been revealed that the Shinsegae Group's controlling family received approximately 14.2 billion KRW in compensation from Shinsegae and E-Mart last year.

According to the business reports of Shinsegae and E-Mart on the 17th, Chung Yong-jin, Vice Chairman of Shinsegae Group, received a total of 3.368 billion KRW last year from E-Mart, including a salary of 2.034 billion KRW and bonuses such as holiday bonuses and performance incentives amounting to 1.334 billion KRW.

Chung Yoo-kyung, General Manager of Shinsegae, received a total of 2.96 billion KRW from Shinsegae, including a salary of 1.794 billion KRW and bonuses of 1.166 billion KRW.

Vice Chairman Chung's annual salary decreased by 194 million KRW compared to 3.562 billion KRW in 2019. General Manager Chung's annual salary also decreased by 154 million KRW compared to 3.114 billion KRW in 2019.

Their mother, Lee Myung-hee, Chairwoman of Shinsegae Group, received a total annual salary of 3.954 billion KRW last year, including 1.261 billion KRW from Shinsegae and 2.693 billion KRW from E-Mart. Lee's husband, Chung Jae-eun, Honorary Chairman of Shinsegae Group, received the same amount.

A Shinsegae Group official explained the decrease in the annual salaries of Vice Chairman Chung and General Manager Chung compared to the previous year by saying, "Due to the impact of COVID-19 on the business environment, bonuses linked to the company's performance decreased, resulting in reduced compensation."

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